HOUSTON-North American Development Group has beaten out 11 other investors to acquire The Commons at Presidio Square, a 189,340-square-foot shopping center anchored by H-E-B. The Toronto-based firm paid $13.6 million for the property, which is situated on 22.5 acres at the intersection of Highway 6 and Bellaire Boulevard on the west side.

“There was a lot of interest [in the center] since everyone wants grocery-anchored retail today,” says Rusty Tamlyn, a senior managing director with HFF who led the investment sales team on behalf of the seller, Camden Securities Co. His team also included HFF real estate analyst Trent Agnew.

“Investors liked the H-E-B most of all – it’s the best grocer retailer in this part of country – and the store is busy,” Tamlyn tells GlobeSt. “When the owner tore down the old theater and vacant box to do the H-E-B ground lease, the center started turning around.”