DRA Advisors LLC bought the holding in Humble, north of Houston, about a year ago. David Stukalin, Weitzman's president in Houston, tells GlobeSt.com that the firm competed against at least five other companies with "similar capabilities." The hot contract includes a component for future development rights.
Amerishop Realty of Dallas was handling the center's leasing and management at the center, but its executives did not return calls by press time about the assignment loss.Stukalin ties the win to Weitzman and Cencor's strong presence in the state's four metros. He says that was particularly important to DRA Advisors.
Stukalin and Jennifer Fredette, also with Weitzman, are heading up leasing while Joseph Karp, Cencor's vice president and Houston director of asset management, gets the management side of the deal. Steve Chandler, Cencor senior vice president and managing partner, will steer development activity.
Situated along US Highway 59 near Deerbrook Mall, the center is anchored by Best Buy, Office Max, Oshman's, Marshall's, Old Navy and Bed Bath & Beyond. PetsMart is finishing out a 30,090-sf inline spot while Olive Garden is building an 8,100-sf freestanding restaurant. The immediate leasing need is to find a replacement for MJ Designs, which vacated 39,000 sf several years ago, and a 5,000-sf tenant for a 10,000-sf building now under construction.
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