Vista Acquires Six Acre Site for Development
May 28, 2010
A Vista-sponsored partnership, Vista Spring Green, Ltd., has acquired a six acre site in Cinco Ranch Southwest, at the intersection of Cinco Ranch Boulevard and Spring Green Boulevard, for the development of a 20,000 specialty retail center and two pad sites.
According to Brent Mann, Vista’s Exec. VP, the site is at the premier intersection in the prestigious Cinco Ranch Southwest master planned community which is being developed by Newland Communities, and leasing interest is expected to be high, due to a lack of neighborhood services in this rapidly growing area.
The property was acquired from Terrabrook Cinco Ranch Southwest and was closed at Ameripoint Title Company. Tradition Bank provided acquisition financing for the property and the retail center is being designed by Hermes Architects. A ground breaking for the development is planned for late Fall, 2011.