PEARLAND, Texas – The Center at Pearland Parkway I, a 167,704-SF shopping center on the eastern side of Pearland has been purchased by Dunhill Partners of Dallas.
The project was a joint venture between Stream Realty Partners and Dallas-based Thackery Partners. Rusty Tamlyn and Ryan West of HFF represented the sellers.
Situated at the intersection of FM 518 and Pearland Parkway, the center has several national tenants such as Ross Dress for Less and T.J. Maxx, and sits adjacent to an HEB grocery development, providing consistent consumer traffic to the site.
“This center is a strategic opportunity for Dunhill to capitalize on a retail mass that’s in a great location, has national tenants performing well above their projections, and a good combination of mature housing and new construction in the immediate area,” said Ralph Tullier, Managing Director of Retail at Stream Realty Partners.
Located on the south side of Houston, the Center at Pearland Parkway is a multi-phase project that kicked off in the early part of economic recovery after the Great Recession ended and was completed in 2014.
“Due to the ideal spacing between the two closest major retail nodes, the Center at Pearland Parkway offers tenants the ability to capture this underserved community with limited competition,” said Mark Sondock, Managing Director of Retail at Stream Realty Partners.
Building on the success of Phase I, Stream recently completed development of Phase II, and is offering additional anchor and in-line space opportunities in the continuation of The Center at Pearland Parkway II, with cross access to HEB.
Pearland Parkway is a newer north-south roadway connecting FM 518 with Beltway 8. The Center at Pearland Parkway is not far from Friendswood.