Stream Realty Announces Houston CBD Acquisition, Retail Center Grand Opening
- Jan 30, 2015
It’s been a busy new year for Stream Realty Partners. Already, the Dallas-based firm announced the grand opening of its Center at Pearland Parkway in Pearland and the acquisition of 600 Jefferson in the Houston CBD.
Located at the intersection of FM 518 and Pearland Parkway, The Center at Pearland Parkway is a 165,000-square-foot retail development that features anchor and junior-anchor, inline and pad-site space. Its tenant roster includes companies such as T.J. Maxx, Ross Dress for Less, Petco and Palais Royal.
“This project features a great combination of strong national retailers and amazing access for an extremely underserved area of Pearland,” said Mark Sondock, managing director at Stream Realty. “As evidenced by the great reception we’ve received from the market, we’re really looking forward to providing the community with a great mix of tenants they can be excited about.”
Located a few blocks from Midtown, 600 Jefferson was acquired in partnership with DRA Advisors LLC from Brookfield Office Properties. Plans are to reposition the Class B office tower as Class A through such means as extensively renovating the lobby, common areas and exterior.
“600 Jefferson provides a unique opportunity to take a position in one of the most dynamic markets in the nation, Houston’s Central Business District,” said Stewart Lyman, vice president at Stream Realty, in an official statement. “The building’s structural efficiency and exceptional location make it a perfect candidate for a repositioning strategy. Upon completion of renovations, the building will fit a demand set that’s not currently served in the CBD.”
Image courtesy of Stream Realty