Texas CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
LRIC Spins Off Lewisville Retail Center
The Valley Square shopping center off Main Street in Lewisville now has a new owner. Disney Investment Group brokered the sale of the shopping center on behalf of former property owner LRIC Properties.
The company sold the property to an undisclosed local buyer represented by DuWest Realty. Community Impact reports that the Denton Central Appraisal District values LRIC’s portion of the property, including land, retail space and parking, of at least $7.8 million.
The nearly 58,000-square-foot center is anchored by a newly opened Fiesta Mart along with over 20 other shops. The Fiesta Mart was not part of the sale, although the grocery store is being marketed for sale.
The sale included Sports Clips, Cicis Pizza, The UPS Store, Fyzical Therapy Center, Sherwin Williams and Isla Dental.
Dallas-based LRIC Properties was formed in early 2014 and focuses on the development, redevelopment and investment of retail properties throughout Texas, the Southwest and the South.
- ◦Sale/Acquisition
