{"id":1004197349,"date":"2017-11-14T08:53:55","date_gmt":"2017-11-14T16:53:55","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004197349"},"modified":"2022-12-09T01:17:32","modified_gmt":"2022-12-09T09:17:32","slug":"pgim-acquires-400ksf-houston-mixed-use-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/pgim-acquires-400ksf-houston-mixed-use-asset\/","title":{"rendered":"PGIM Acquires 400 KSF Houston Mixed-Use Asset"},"content":{"rendered":"<p>By Alex Ciorogar<\/p>\n<div id=\"attachment_1004197352\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Capture-3.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004197352\" data-attachment-id=\"1004197352\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/pgim-acquires-400ksf-houston-mixed-use-asset\/capture-3-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Capture-3.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Alexandru Ciorogar&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1510572358&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Capture 3\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;LaCenterra at Cinco Ranch in Katy, Texas&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Capture-3.jpg?w=800\" class=\"size-medium wp-image-1004197352\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Capture-3.jpg\" alt=\"LaCenterra at Cinco Ranch in Katy, Texas\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Capture-3.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Capture-3.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Capture-3.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004197352\" class=\"wp-caption-text\">LaCenterra at Cinco Ranch in Katy, Texas<\/p><\/div>\n<p>PGIM Real Estate\u2014part of Prudential Financial Inc.\u2014has purchased a 412,900-square-foot mixed-use retail center in Katy, Texas, for an undisclosed sum. The property emcompasses\u00a0273,522 square feet of Class A retail space and 139,378 square feet of Class A office space. LaCenterra at Cinco Ranch is a 34-acre regional retail center located on the 8,100-acre Cinco Ranch master planned community. According to PGIM, the retail space was 93 percent occupied, while the office space was 89 percent occupied at the time of the sale.<\/p>\n<p>Trader Joe\u2019s anchors the retail space, while the office space comprises a variety of tenants, including engineering, energy and sportswear design companies. Alamo Drafthouse\u2014which will feature an eight-screen theater, in-theater dining services and a 2,000-square-foot bar\u2014will also be anchoring the <a href=\"https:\/\/www.commercialsearch.com\/news\/stream-realty-partners-sells-retail-center-in-pearland-tx\/\">Houston retail<\/a> space, which is currently under construction. The project is expected to be completed by 2018.<\/p>\n<p><em>\u201cWe expect that Houston\u2019s strong demographic trends will continue to support the retail market, while Katy\u2019s favorable business climate, top-ranking public schools and proximity to affluent residential communities will continue to attract a diverse employer base to LaCenterra,\u201d<\/em> said Alfonso Munk, managing director &amp; CIO at Americas at Prudential Real Estate Investors, in prepared remarks.<\/p>\n<p>Executive Director Mark Seedorff at PGIM Real Estate\u2019s South Region Transactions arranged the deal.<\/p>\n<p><em>Photo via Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>LaCenterra at Cinco Ranch recently changed hands. Executive Director Mark Seedorff at PGIM Real Estate\u2019s South Region Transactions arranged the deal.<\/p>\n","protected":false},"author":928,"featured_media":1004197352,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21782,1589,21783,21752,21742],"tags":[38333,34714,33626],"class_list":["post-1004197349","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-development","category-houston","category-investment","category-mixed-use","category-latest","tag-lacenterra-at-cinco-ranch","tag-pgim-real-estate","tag-prudential-financial"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>PGIM Acquires 400 KSF Houston Mixed-Use Asset - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/pgim-acquires-400ksf-houston-mixed-use-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PGIM Acquires 400 KSF Houston Mixed-Use Asset\" \/>\n<meta property=\"og:description\" content=\"LaCenterra at Cinco Ranch recently changed hands. Executive Director Mark Seedorff at PGIM Real Estate\u2019s South Region Transactions arranged the deal.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/pgim-acquires-400ksf-houston-mixed-use-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-11-14T16:53:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T09:17:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Capture-3.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Alex Ciorogar\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pgim-acquires-400ksf-houston-mixed-use-asset\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pgim-acquires-400ksf-houston-mixed-use-asset\\\/\"},\"author\":{\"name\":\"Alex Ciorogar\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/b4a70df0ad52ca9767a9e26548ab1aad\"},\"headline\":\"PGIM Acquires 400 KSF Houston Mixed-Use Asset\",\"datePublished\":\"2017-11-14T16:53:55+00:00\",\"dateModified\":\"2022-12-09T09:17:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pgim-acquires-400ksf-houston-mixed-use-asset\\\/\"},\"wordCount\":240,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pgim-acquires-400ksf-houston-mixed-use-asset\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/11\\\/Capture-3.jpg\",\"keywords\":[\"LaCenterra at Cinco Ranch\",\"PGIM Real Estate\",\"Prudential Financial\"],\"articleSection\":[\"Deals\",\"Development\",\"Houston\",\"Investment\",\"Mixed Use\",\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pgim-acquires-400ksf-houston-mixed-use-asset\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pgim-acquires-400ksf-houston-mixed-use-asset\\\/\",\"name\":\"PGIM Acquires 400 KSF Houston Mixed-Use Asset - 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