McAllen Retail Sells to Laredo Investor
Coldwell Banker Commercial Rio Grande Valley arranged the sale of Main Place Shopping Center, a 172,000 square foot retail community center in McAllen, for an undisclosed sum. The property traded to Big Sky Estate Investments LLC.
Coldwell Banker Commercial’s Daniel Galvan represented the Laredo-based buyer. “Our client saw the value-add opportunity with Main Place Center,” said Galvan, a principal of Coldwell Banker Commercial Rio Grande Valley.
“The asset is in a great location, adjacent to Simon’s La Plaza Mall,” Galvan continued. “The buyer plans to position the property for long-term success with an aggressive leasing strategy and potential pad sites available for development.”
Built in 1988, Main Place Shopping Center is situated on approximately 20 acres. Its largest tenants are the University of Texas Rio Grande Valley and the Main Place Indoor Market.
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