Kyle Crossing at 5100-5167 Kyle Centre Dr. was acquired by Elm Creek and Reserve Development.
DALLAS—Who says retail is dead? Four retail centers in Texas totaling $90.8 million recently closed, which demonstratively puts those rumors to rest. The centers encompass more than 634,000 square feet of retail space.
“The recent US Department of Commerce e-commerce sales fourth quarter 2018 report concluded that 90% of retail remains offline, in brick and motor stores,” JLL managing director Tom Salanty tells GlobeSt.com. “Expect demand for quality retail space to continue. The Texas statistics confirm this. All the major market retail fundamentals are very strong. Rental rates are increasing. Vacancy and new construction starts are also historically low. Texas is a great place to invest.”
Kyle Crossing, located at 5100-5167 Kyle Centre Dr. in Kyle, TX was acquired by Elm Creek Real Estate and Reserve Development LLC. JLL represented the seller, SITE Centers, in the sale of the 121,485-square-foot 16.83-acre retail center.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
