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Megacenter’s Fifth Redevelopment Reaches Milestone in Houston
Megacenter Willowbrook LLC has completed phase one of Megacenter Willowbrook, a 235,627-square-foot mixed-use project in northwest Houston. The revamp of a former Walmart Supercenter is Megacenter’s fifth redevelopment project in the U.S.
The first phase of the project, on which HFF arranged financing last year, includes 37,000 square feet of flex warehouse; 20,000 square feet of self-storage; and 15,000 square feet of office suites and co-working space. Later, a 114,000-square-foot gym and 34,000 square feet of entertainment destinations will be added.
HFF’s Michael Johnson and Stuart Hepler worked on behalf of Megacenter last July to place the three-year, floating-rate financing on the project with Icon Bank. At the time, Johnson said the Megacenter team was “poised for great success at Megacenter Willowbrook with an innovative mixed-use strategy that plays to the strong demographics in the area, and creatively reconfigures the existing Walmart structure into a diverse and resilient income stream.”
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