Weingarten Sells 173K-SF Cypress Pointe & Adjacent Chick-fil-A

Weingarten Realty Investors struck a deal with Tarantino Properties to sell Cypress Pointe, a 173,344-square-foot, Kroger-anchored shopping center in the Houston suburb of Cypress, TX. And, in a separate transaction, the Houston REIT sold an adjacent, 4,517-square-foot single-tenant retail building, triple-net-leased to Chick-fil-A to the seller, also headquartered in Houston.

George Cushing, Wendy Vandeventer and Meaghan Gallacher with JLL represented the seller. Courtney Cole and James Brolan, also with JLL, placed a 10-year, fixed-rate acquisition loan with Morgan Stanley Bank N.A., on behalf of the buyer.

Situated on 16.4 acres at 302-430 F.M. 1960 West, Cypress Pointe is 99.1% leased to retailers that include grocery, discount stores, food and beverage and health and beauty. “I am excited to add Cypress Pointe Shopping Center to our portfolio of income-producing assets,” said Tarantino Properties’ Anthony Tarantino. “Cypress is a well-located and tenanted shopping center with Kroger as an anchor, and Ross Dress for Less and Five Below as new tenants.”

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