HOUSTON – Williamsburg Enterprises Limited of Houston has acquired the Renaissance Center, a 97,279-SF, value-add, grocery-anchored retail center east of the Texas Medical Center in Houston.
HFF marketed the property on behalf of the seller, Lionstone Investments.
Renaissance Center is anchored by H.E.B, one of the largest independent food retailers in the U.S. and the premier grocer in Texas. Completed in 1996, the center is also home to eight tenants, including Taco Bell, BB&T Bank, Texas Department of Human Services, Watermill Express and U.S. Renal Care.
Situated on 9.603 acres at 6102 Scott Street, Renaissance Center is located at the southwest corner of Old Spanish Trail and Scott Street. The retail center is inside of Houston’s Interstate 610 inner loop less than two miles from the Texas Medical Center and downtown Houston, two of the major employment bases in the city. The property’s dense, infill location has more than 135,000 residents living within a three-mile radius.
HFF’s investment sales team was led by senior managing directors Ryan West and Rusty Tamlyn.
“The center is in a very urban, infill location with tremendous value-add opportunity, which the buyer is immediately implementing,” West said. “This opportunity reflects the re-gentrification occurring in several different pockets inside the Interstate 610 Loop.”
Feb. 24, 2017 Realty News Report Copyright 2017