Chilean Firm to Redevelop Houston Walmart Into 235,627 SF Mixed-Use Property

HOUSTON —A subsidiary of Chilean real estate firm Red Megacentro will develop Megacenter Willowbrook, a project that will convert a former Walmart Supercenter building in the Willowbrook area of northwest Houston into a 235,627-square-foot mixed-use property. Preliminary plans call for industrial, self-storage, retail and office space. Phase I will deliver a 113,940-square-foot gym, 47,319 square feet of flex space and a 6,810-square-foot auto center. The final project completion date is slated for November 2019. Michael Johnson and Stuart Hepler of HFF arranged floating-rate financing for the project through Icon Bank.