HOUSTON – The NAI Investment Fund has acquired the Spring Park Village retail center from MetroNational Corp.
The 76,409-SF Spring Park Village retail center is located on the north side of Houston at the intersection of Interstate 45 Cypresswood Dr, south of the Grand Parkway.
The center is the first retail property acquired by the fund, which is the investment arm of the Houston-based NAI Partners real estate firm. The acquisition closes out NAI Investment Fund I as the firm prepares to open Investment Fund II, said NAI’s Andrew Pappas.
Kevin Holland of Edge Capital Markets represented MetroNational.
Spring Park Village is a 100 percent leased retail center comprised of a broad tenant mix including Conn’s, Sears Outlet, Starbucks, Texas State Optical and AT&T. The property is located at the signalized intersection of Interstate 45 and Cypresswood Drive adjacent to Top Golf and Spring High School.
Other properties recently acquired for the Fund I include 11301 Fallbrook Drive, a 61,165-sq.-ft. medical office building in Houston; 12600 N Featherwood Drive in southeast Houston; and Marymont Park, a one-story office park in northeast San Antonio.