EL PASO-In a move to relocate its Fallas Paredes store in the city’s old Downtown area, Gardena, CA-based National Stores Inc. has acquired the 210,000-sf One Union Fashion Center from a local limited partnership. The new store will open by year’s end.

Shawn Ackerman, executive vice president with Dallas-based Henry S. Miller Commercial’s Houston office, nearly vacant, nine-story building at 102 N. Mesa St. was a logical buy for National Stores. “Right now, Fallas leases three combined stores across the street,” he says. “It made sense for them to buy the building, occupy the first two floors and do something above it.”

The seller, VEK 2 LP, was represented by Dan Foster, a retail broker with Grubb & Ellis in El Paso. The buyer’s team included Jason Gaines, an assistant vice president with Henry S. Miller Commercial.

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