HOUSTON – December 20, 2015 – Abington Emerson sold Spring Creek Plaza, a 25,000 square foot neighborhood retail center, which was acquired in February 2015. At the time of acquisition, Spring Creek Plaza located in Spring, Texas was only 25% occupied, was poorly managed and required a number of improvements.
In less than ten months, Abington Emerson upgraded the property, renewed existing leases at higher rates and signed 4 new tenants. Improvement to the Spring Creek Plaza were mostly aesthetic, including exterior paint, parking lot repairs, and new landscaping, but made a big difference to how the property showed to prospective tenants and buyers. The occupancy at the Plaza was 80% at the time of sale.
“We are very pleased with the outcome of this sale,” said Brent Howard, “Our team and their pragmatic approach allowed for a quick transformation of a poorly managed and practically vacant property into a very productive retail plaza.”