PGIM Acquires 412,900 SF Mixed-Use Property in Greater Houston
KATY, TEXAS — PGIM Real Estate, the real estate investment vehicle of Prudential Financial Inc., has acquired LaCenterra at Cinco Ranch, a 412,900-square-foot mixed-use property in Katy. The 34-acre, Class A lifestyle center features 273,522 square feet of retail space, which is anchored by Trader Joe’s, and 139,378 square feet of office space. Those components are 93 percent and 89 percent leased, respectively. The final phase of the development features an eight-screen Alamo Drafthouse Cinema location, which is currently slated for a 2018 completion. Mark Seedorff of PGIM led the transaction.