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Retail disposition The retail property fully leased to three national tenants.

PORT ARTHUR, TX—What was once a single-tenant building became a multi-tenant retail center due to strong demographics in the Port Arthur market. This effort has brought about increased tax revenues and employment opportunities. The 84,584-square-foot retail property fully leased to three tenants, Hobby Lobby, PetSmart and Party City, is located on the corner of Highway 69 and F.M. 365.

“Baker Katz acquired this property in 2012 and transformed the single-tenant building into a multi-tenant center, bringing new national tenants to the area,” said Neal Wade of Baker Katz. “This is a well-positioned center in a strong trade area that has been repurposed to maximize the property’s location and fulfill the demand of the local residents.”

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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.

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