Located at 6102 Scott St. on a 9.6-acre tract, RenaissanceCenter is anchored by an H-E-B grocery store. Paul Gardner, asenior associate in Houston for Marcus & Millichap Real EstateInvestment Services, says the center originally had 60,586 sf whenit was built in the 1960s. The 32,646-sf H-E-B and additional padspace were developed in 1996 says Gardner, who brokered thetransaction between the buyer and the local seller. The seller dideverything in 1996 when they bought the center. They added H-E-B, aRent-A-Center pad and Taco Bell pad, then went back and redid theremainder of the inline space," he tells GlobeSt.com.

Gardner says the seller decided to sell the asset because oftiming and a desire to move onto other opportunities. He says twoprevious contracts fell out before the buyer showed up to finallyclose on it. "In the previous cases, the entities used investorsthat didn't materialize," he says. "The current buyer is a largeinstitutional buyer, who brought good experience, great marketknowledge and a reputation of closing. It's a great company."

Gardner says there are no plans to upgrade Renaissance Center,which will be managed by the new owner. The tenant roster includesFirst National Bank of Texas, Frenchy's Chicken and PNPCommunications.