A 409,000-square-foot shopping center in Katy, home to Trader Joe’s and Lululemon, was just sold for $223 million.
CINCO RANCH, Texas — LaCenterra at Cinco Ranch has a new owner.
New York-based Brixmor Property Group Inc. (NYSE: BRX) acquired the approximately 409,000-square-foot lifestyle center in Katy for $223 million earlier this month, the company said in its second-quarter earnings report released July 28.
LaCenterra, located in the Cinco Ranch master-planned community, is home to Trader Joe’s, Athleta, a small-format Ikea, Lovesac, Lululemon, Sephora, Warby Parker, Ambriza Social Mexican Kitchen, Cava, Grimaldi’s Coal Brick-Oven Pizza, Postino and several other tenants. It attracts over 5 million visits per year, Brixmor said.
“The acquisition of LaCenterra At Cinco Ranch furthers our clustering strategy in a key market and broadens our tenancy profile and retailer relationships, providing a vibrant source of incremental and relevant demand, as we continue to evolve the merchandise mix across our transformed portfolio,” Mark Horgan, executive vice president and chief investment officer, said in Brixmor’s earnings report.
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