Gross gained the deed from Parr Family LP of Houston, paying close to $6 per sf for the land, which is located at Atascocita Road and Timber Forest Drive, says Roddy McAlpine, a senior vice president with Colliers International's Houston office. He andChristopher Klein brokered the land sale.
"This is a booming area, but it's under-retailed," McAlpine says. "There's not a lot of developable land left in the area." The parcel is part of a 5.7-acre tract. The remaining 3.4 acres is under contract to another buyer who also plans to develop retail on thesite, he notes.
Gross tells GlobeSt.com that the Centre at Eagle Springs is 35% leased to local tenants including a Fiesta Azteca, Orient Café, Nail First and Diamond Health Massage. An additional 7,000 sf of leases will be signed by the end of the week, he says.
The asking lease rate for the center is $19.50 per sf plus common area maintenance charges. Gross' firm, Brazos Management Enterprises Inc., is handling the leasing and management of the Centre at Eagle Springs.
Fitzgerald & Associates Architects of Oklahoma City is in charge of design; DH French Construction Co., also of Oklahoma City, is serving as the general contractor. Gross expects the center to be open by Nov.1.
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