Stream Realty Divests Retail Power Center in Pearland

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Dallas-based Stream Realty Partners closed the sale of The Center at Pearland Parkway I in Pearland, TX to Dallas-based Dunhill Partners, Inc. The 167,704-square-foot, fully-leased retail shopping center was developed in a joint venture between Stream and Dallas-based Thackery Partners.

Stream Realty’s Ralph Tullier says, “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.”

The multi-phase project kicked off in the early part of recovery after the recession ended and was completed in 2014. Situated at 2650 Pearland Parkway near FM 518, the center has national tenants such as Ross Dress for Less and T.J. Maxx.

HFF’s Rusty Tamlyn and Ryan West represented the sellers. The buyer was self-represented.

 

SOURCE: Connect Commercial Real Estate