Partners Capital, the investment management platform and development arm of Partners Real Estate Company, recently acquired Bay Pointe Shopping Center, a two-building 98,522-square-foot retail center in southeast Houston. The purchase price was undisclosed.

Bay Pointe Plaza is currently 100 percent leased with a dark Randalls box that expires in March 2024. It has access off Space City and Clear Lake City Boulevards, and is the fourth acquisition made by Partners Capital’s Fund IV investment vehicle.

“Bay Pointe represented an opportunity to acquire a value-add asset in a high-demand low-supply area,” said Andrew Pappas, managing director of Partners Capital and Partner, Partners Real Estate Company. “The property has historically been a strong performer, with an average tenant tenure over 17 years, and we have the unique opportunity to bring new life to the shopping center and neighborhood through the redevelopment of the Randalls space.”