
PGIM Lassos Cinco Ranch MXU Retail Center
PGIM Real Estate acquired LaCenterra at Cinco Ranch, a 412,900-square-foot outdoor mixed-use retail lifestyle center in Katy, TX, on behalf of institutional investors. The seller was reportedly a partnership between Vista Companies and Denver-based equity partner Amstar.
The property includes 273,522 square feet of Class A retail and 139,378 square feet of Class A office that are leased 93% and 89%, respectively. Trader Joe’s anchors the existing retail, while an Alamo Drafthouse movie theater/dining hybrid will anchor the final retail phase currently under construction with completion scheduled for 2018.
LaCenterra is a 34-acre regional retail destination in Katy, a western suburb of Houston, and is part of the 8,100-acre Cinco Ranch. The master planned community offers an open-air, pedestrian-friendly environment, with lakes and two half-acre multipurpose public parks.
PGIM Real Estate’s Mark Seedorff led the transaction.
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