SVN | J. Beard Real Estate - Greater Houston Facilitates The Sale Of The Inline Retail Portion Of Grogan's Mill Village Center

THE WOODLANDS, TX -- SVN | J. Beard Real Estate – Greater Houston has recently completed the sale of the inline retail portion of Grogan’s Mill Village Center in The Woodlands, TX, to The Howard Hughes Corporation. Located at the intersection of Grogan’s Mill Road and Buckthorne Place, the retail center is in the heart of The Woodlands’ first residential enclave, the Village of Grogan’s Mill. Built in 1974, the 10,406-square-foot buildings are in the traditional style with brick, wood, and glass storefronts.

Jeff Beard, CCIM and Managing Director of SVN | J. Beard Real Estate – Greater Houston, represented the seller, Grogans Mill Retail Center, LLC.

Beard said, “I originally worked leasing of the small shop retail center in 1997 when I was with The Woodlands Operating Company on the renovation and installation of Albertson’s as the anchor. After The J. Beard Real Estate Company was established in 2003, and the center had changed ownership, we had another opportunity to work on the project. We have since been involved with the center for nearly 20 years through various tenants, anchors, and multiple ownership entities.”

Beard added, “As a commercial real estate representative, as well as a long-time resident of The Woodlands, it is nostalgic and very exciting to witness the project come full circle. Understanding the unique challenges of the project because of the past fractured ownership, restrictions, and a wide variety of development limitations, The Howard Hughes Corporation is the absolute perfect buyer to successfully navigate these hurdles. We can’t wait to see what the sale and redevelopment of such an iconic center will bring to the community.”

“Howard Hughes has acquired the inline retail and grocery anchor component of the Grogan’s Mill Village Center. This acquisition represents the first step of a long-term revitalization process that will require extensive collaboration, planning and design. In the meantime, The Woodlands Farmer’s Market at Grogan’s Mill Village Center will continue its Saturday operations without interruption,” stated Jim Carman, President, Houston Region for The Howard Hughes Corporation.