99 Ranch Marketplace:
The roughly 130,000 square feet of aging retail space at 131 Spring Creek Parkway in Plano was 70 percent vacant, but Centennial Real Estate Co. saw opportunity. With help from Venture Commercial and solid demographics data, Centennial convinced California-based 99 Ranch Market to open its first North Texas store. The Asian-focused grocer got its start in 1984 and opened a Houston store in 2009.
With 99 Ranch as an anchor, the Spring Creek shopping center has grown to 76 percent occupied, with Chase Bank and Northern Tool & Equipment holding other space in the center. Asian-focused retailers and restaurants have moved into the center and 99 Ranch might be considering additional North Texas locations.
Key Players: Steven H. Levin, Centennial Real Estate Co., landlord/owner, developer; John Zikos, Bryan Cornelius, Charlotte Walley, Tonya Hagood, and Chris Booras, Venture Commercial, brokers; Lisa Swift, GSO Architects; Christopher Gibbons, Venture Commercial, sellers representative; Clay Mote, Venture Commercial, tenant representative.