(For more retail coverage, click GlobeSt.com/RETAIL.)

HARLINGEN, TX-In its first area land play, Fort Worth-based Woodmont Co. in partnership with National Retail Properties Inc. of Orlando have acquired 3.12 acres for an estimated $6-million to $8-million retail development. The 32,000-sf Harrison Crossing will break ground in early 2007.

Woodmont associate Kyle Gill tells GlobeSt.com that the contingency for the project’s construction launch involved a strong preleasing need. To date, three tenants are committed to the location at the corner of US Highway 77 and West Harrison Avenue, including a Walgreen’s drug store and Starbucks.

“The remaining interest in the project has been very high,” says Gill, who brokered the sale on behalf of the partnership, which is operating under the name NNN Harrison Crossing LP. The center is slated for completion by fall 2007.

The land parcel was assembled in two acquisitions from local sellers Joseph Lapinski and Ravindra Bhakta. A 2.93-acre parcel held a Scottish Inn& Suites hotel, which is being demolished in preparation for Harrison Crossing’s construction.

The site is across the highway from Valle Vista Mall and a Wal-Mart Supercenter. The area surrounding Harrison Crossing is a mix of multifamily complexes, restaurants and other retail shops.

While Harrison Crossing is the joint venture’s first endeavor in the area, Gill says Woodmont is interested in pursuing other developments individually or joint ventures. “We’d like to do more developments in Harlingen and are looking in the entire valley,” he adds. “Hopefully we can put other deals together.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.