CENCOR/WEITZMAN EXPAND TO THE VALLEY

SAN ANTONIO—The San Antonio office of Cencor Realty Services continues to grow the company’s presence in the Rio Grande Valley. 

Cencor’s Property Management Division, under the direction of Karen Waring, regional asset manager and director of property management, has been named property manager for two additional projects in the Valley totaling nearly 390,000 square feet of retail space. This brings to three the number of projects that Cencor manages in the Valley for an overall portfolio of approximately 485,000 square feet.

 “We’re committed to Cencor’s growth in the Valley,” Waring said. “We bring the expertise of one of the state’s most recognized retail specialists to the property management side of the business. For the Valley, we’re in the market, we have the infrastructure and we’re ready to go.”

With the two new management assignments, Cencor now manages a large power center in Laredo and one major regional-draw retail center and one neighborhood center in Brownsville. 

The new additions to the portfolio are:

·      Independence Plaza, a new project set to open its first phase in spring 2007 at McPherson Road and Loop 20 (Bob Bullock) on the fast-growing north side of Laredo. The center, a project of San Isidro Management, LC, will be anchored by a 143,000-square-foot H-E-B Plus!, set to open in May. Phase II will open in summer 2007, with a third phase planned. Upon completion, Independence Plaza will total more than 300,000 square feet;

·     Sunrise Plaza, a 36,147-square-foot center located at Highway 77 and Pablo Kisel in Brownsville. Sunrise Plaza, a project of Los Angeles-based SCI, features retailers including Anna’s Linens, Petland, Sally Beauty and R.M. Lackner Jewelers. The Weitzman Group leases the center.

These centers join a Valley portfolio that also includes Morrison Crossing, a center that incorporates 96,239 square feet in its first phase. Morrison Crossing, located at Morrison and Highway 77/83 in Brownsville, is shadow-anchored by Home Depot and Academy Sports & Outdoors. The project is a project of a partnership of PO’B Montgomery and L & B Realty. Cencor, out of its San Antonio office, currently manages 14 centers totaling 2 million square feet of retail space.

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