Texas + Retail | January 4, 2021

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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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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