DALLAS—An Austin-based LLC has acquired Texas Plaza, a 33,405-square-foot neighborhood retail center located on approximately three acres at 5000 N. 23rd Street in McAllen.
Andrew Phelan handled negotiations for the seller, a McAllen-based LLC.
Texas Plaza, built in 2002, features a neighborhood-focused tenant mix that includes several restaurants, beauty, fitness and service tenants. The project benefits from its visible and accessible location in a strong trade area. Within a three-mile radius of Texas Plaza, there are more than 105,000 residents and nearly 34,000 households with an average household income of $76,369.
The center also benefits from the traffic in the area created by national and regional tenants such as Walmart, TruFit Athletic Clubs, Gold’s Gym, CVS and others.