Just one year ago, the 207,120-square-foot shopping center was 57 percent occupied after losing anchor tenants Linens 'N' Things and Circuit City. Dallas-based Phoenix Property Co., which serves as asset manager for the center's owner, IBV Bank of Germany, brought on Stream Realty Partners' Retail Division to handle leasing.

Since then, the Stream Realty team has inked more than 100,000 square feet of new deals at the center, which is located at 327 NW Loop 410. Toys "R" Us/Babies "R" Us committed to a 10-year lease as an anchor tenant and will open this fall, according to Robin Smith, co-managing partner in Stream Realty Partners' Retail Division.

Smith and Lance Taylor handle leasing for the center, which was built in 1995. Todd Wallace and Robert O'Farrell with SRS Real Estate Partners in Austin represented Toys "R" Us/Babies "R" Us.

Smith tells GlobeSt. that the leasing team overcame numerous hurdles to sign Toys "R" Us/Babies "R" Us including the need for exclusive-use clause waivers from several other tenants, as well as combining two vacant boxes with different finished floor elevations.

In addition to Toys "R" Us/Babies "R" Us, Ross Dress for Less, TJ Maxx, Best Buy, Shoe Carnival, Regency Beauty and Debbi's Bridal have all signed leases or letters of intent for space in San Pedro Crossing. Moreover, Stream renegotiated Office Depot's' 21,000-square-foot lease to secure the retailer's commitment for another five-year term. Lease negotiations were handled directly with Elliott Simon of Office Depot.

Taylor tells GlobeSt. that the leasing environment for the center was very competitive. "There was more than 200,000 square feet of competing vacant space at the Loop 410/San Pedro intersection, and Office Depot was considering leaving to move across Loop 410 to the newly-developed Park North Shopping Center," he says.

Smith notes that San Pedro Crossing offers superior access and visibility, which helped attract the new tenants. Moreover, the center had one of the only vacant blocks large enough to fill Toys "R" Us/Babies "R" Us' 60,000-square-foot requirement.