MISSION, Texas – Mission city leaders are expecting great things from NewQuest Properties’ development of the old Kmart building on the northeast corner of I-2 and Bryan Road.
The Houston-based company is bringing in Montana-based Murdoch’s Ranch & Home as the main anchor. It’s the fourth store of its kind in Texas. There will also be a Burlington store. And negotiations are underway for a national restaurant chain to be located there. The development is to be called Mission Gateway.
NewQuest put this information on their website:
Ideally situated fronting Expressway 83 within the McAllen MSA, an area known for its high retail sales, Expressway 83 is the main east-west thoroughfare in the MSA and boasts 112,286 vehicles per day.
Directly leads to the Anzalduas border crossing (on Bryan Road) carrying 2 million cars annually to and from Mexico.
The Anzalduas crossing is 4 miles south from the property and is the main regional crossing point to and from Mexico
Available:
3,195 – 10,300-SF retail space for lease
Mission Traffic Counts:
112,286 VPD (vehicles per day) on Expressway 83
2 million VPD on Anzalduas Crossing.
At a recent ribbon-cutting ceremony for the development, Teclo Garcia, CEO of Mission Economic Development Corporation, stressed the importance of Anzalduas International Bridge, which is a straight shot south on Bryan Road.
“There’s an old adage of business that everyone knows. It is location, location, location. This is a great location. Randy talked about it being close to the bridge. Well, the first four months of fiscal year 2022-2023, October, November, December, and January, we had a total about 450,000 cars go southbound from here. You can say pretty much for the most part, there was probably about 450,000 cars coming northbound at that same time, with two or three people in each car. Now we’ve got over a million people that are crossing and coming through here and going right by this development,” Garcia said.
The “Randy” Garcia spoke about was Randy Perez, Mission’s city manager.
Jay Sears, managing partner of NewQuest, also spoke at the ribbon-cutting ceremony.
“You know, it is a great piece of real estate obviously. It is location, location, location. But it isn’t just the real estate that makes real estate work. It is the community that is behind it, that supports it, that really makes a project. We come into a community and we try to build what will match the needs and aspirations of that community. That is our hope here,” Sears said.
Editor’s Note: The attached podcast contains the analysis of Jay Sears, managing partner of NewQuest, and Teclo Garcia, CEO of Mission Economic Development Corporation:
Podcast
Biography of Jay Sears
As co-founder and Managing Partner of NewQuest Properties, Sears focuses on growing the NewQuest platform through new development, acquisitions and strategic opportunities, overseeing NewQuest Investment Company, and on managing key client relationships with retailers and clients.
In 1996, he founded Sears Realty Company, a commercial brokerage and development firm that developed, managed and leased numerous grocery-anchored shopping centers throughout the greater Houston area. He formed Sears Realty in response to the site selection and development needs of his grocery and retail clients, brokering or developing numerous transactions involving Albertsons, HEB Grocery Company, Kroger, Walgreen’s, PETCO Animal Supplies, Rice Epicurean Markets, 24 Hour Fitness, among many others. The company flourished and, in 2001, Sears merged with Quest Properties, with the merged company being renamed NewQuest Properties.
Sears received a B.B.A. from Baylor University in 1982. He is a member of the International Council of Shopping Centers (ICSC), a member of the Urban Land Institute, and a member of the Rice Design Alliance.
Editor’s Note: The above news story is the first in a two-part series on the growth of Mission, Texas. Part Two will be published in our next edition.
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