AmReit latest player to jump in on north Houston retail revival - Houston Business Journal:

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The new project, which encompasses two vacant retailk boxes, has been dubbed West Road Plaza. The parcekl is located on the southwesf corner of Interstate 45 and West AmReit is in the procesds of reskinning thetwo boxes, which formerly housecd a and a computer store owned by Hewlett-Packard Co. Prestojn Cunningham, vice president of developmentfor AmReit, says he is in finaol lease negotiations for a 136,000-square-foot retail tenant to occupy the former HP box. Additional discussion are under way with two national credit tenantz to takethe K-Mart space, he says.
The stretcuh of Interstate 45 just inside Beltway 8 has becom e a thriving retail hub in north National consumer chains like AcademySports Outdoors, Wal-Mart and Home Depot have opened outlets in the area, touchintg off a retail resurgence. "Alpl the retailers are doingf really well inthis area, and that was a big part of our says Cunningham. "West Road is easily accessible, so your trade area is from a dense population." AmReit bought the parcelo from a Dallas familgy that owned it as investment for decades. In addition to West Road AmReit and its retaio partnerships have completed three other projectw nearthis intersection, including two frontage shopping centers.
Jack president of the GreatefrGreenspoint District, says even more redevelopment could be on tap for the specifically Greenspoint Mall. "I expect to see a redevelopede mall in the futurwe because of the value ofthe 110-acre site," he AmReit is a self-managed real estate investmen firm that develops and acquires property on high-traffi c corners. AmReit Realty Investment Corp., a wholly-ownef subsidiary of AmReit, is a real estate operating anddevelopmenty company. Smelling an opportunity in the battered apartment market, Houston-based Creekstone Cos. has launched an affiliated firm to acquired and manage multifamily real estate asset throughoutthe country.
Creekstone Partners will buy Class A and B apartmenyprojects -- containing at least 150 unites -- in primary and secondary U.S. The company says it will acquire up to 20 propertiesxthis year, representing some $500 million in Creekstone Partners has already contracted to buy four projects in Atlanta and Denver. "Thd last couple of yeara have been very difficult for the multifamily realestatre sector," says Marc Goldstein, principal in Creekstone Partners. "We believe that the most batterexd markets now present the greatest opportunities for Creekstone Partnerz andits investors.
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