HOUSTON, July 24, 2017 /PRNewswire/ -- Stream Realty
Partners today announced the firm has closed the sale of The Center
at Pearland Parkway I, a 167,704-square-foot, fully leased retail
shopping center in the Pearland
trade area. The project was a joint venture between Stream and
Dallas-based Thackery Partners,
and was sold to Dunhill Partners, Inc.
"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.
The Center at Pearland Parkway is a multi-phase project that
kicked off in the early part of recovery after the recession ended
and was completed in 2014. Situated at a prime intersection of FM
518 and Pearland Parkway, the center has strong 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.
"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.
Rusty Tamlyn and Ryan West of HFF represented Stream and Thackery
Partners in the transaction.
About Stream Realty Partners
Stream is a
commercial real estate firm with more than 700 real estate
professionals and eleven locations across the country. The
company's full-service offerings cover the broad spectrum of
leasing, management, development, construction, health care and
investment sales services across the commercial and multifamily
industry. In addition, Stream specializes in sourcing acquisition
and development opportunities for the firm and its clients. Stream
currently has more than 120 million square feet of assignments
across the nation, completes over $2.4
billion in real estate transactions annually and is
considered one of the most active investors and developers in the
real estate industry. Visit www.streamrealty.com.
About Thackeray Partners
Founded in 2005, Thackeray Partners is a real estate investment
firm seeking a diversified portfolio of stabilized, value-add, and
development opportunities in industrial, multifamily, and retail
properties throughout the United
States, with a balance of income and capital appreciation on
behalf of its partners. For more information, visit
www.thackeraypartners.com.
About HFF
Holliday Fenoglio Fowler, L.P.,
HFF Real Estate Limited (collectively, "HFF"), HFF Securities L.P.
and HFF Securities Limited (collectively, "HFFS") are owned by HFF,
Inc. (NYSE: HF). HFF and its affiliates operate out of 24 offices
and are a leading provider of commercial real estate and capital
markets services to the global commercial real estate industry. For
more information please visit hfflp.com.
Contact:
Lauren
Allen
713.300.0275
media@streamrealty.com
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SOURCE Stream Realty Partners