Sunday, January 18, 2009

Grubb & Ellis Facilitates Sale of 32,000-SF Shopping Center in League City, TX

HOUSTON, TX – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, represented Regency Centers in the sale of South Shore Marketplace, an approximately 32,000-square-foot shopping center in the Houston suburb of League City.

Located at the northeast corner of League City Parkway (Highway 96) and South Shore Blvd., South Shore Marketplace includes a nearly 28,000-square-foot multi-tenant structure and an approximately 4,000-square-foot building on a ground lease to Chase Bank. The 96 percent occupied center is shadow anchored by a Kroger grocery store.

“South Shore Marketplace occupies a key position in the middle of the most dynamic residential growth corridor in the Clear Lake market,” said George Cushing, senior vice president in Grubb & Ellis’ Houston office.

“The quality of the development and strategic location of the center are hallmarks of Regency's development program. These attributes will deliver value to the buyer for years to come.”

South Shore Marketplace, which was purchased by Dallas-based Dunhill Partners Inc., was exclusively marketed for sale by Cushing and Wendy Vandeventer, (top right photo) vice president, of Grubb & Ellis’ Houston Retail Investment team.

Contact: Damon Elder, Phone: 714.975.2659, Email: