Texas

MURPHY, TEXAS — United Development Co. of Southlake, Texas has closed on a 1.6-acre parcel in Murphy with plans to co-develop a 11,500-square-foot retail center. The property will feature a 4,000-square-foot Sherwin Williams at 420 W. FM 544 near the Brand Road intersection. The center will be complete summer 2016. The project is being co-developed with Stacy McVey of Double Eagle Properties. Shelley Taylor of The Retail Connection is leasing the project, which will include Jimmy John’s, a dentist’s office, and 4,000 square feet of available space. United Development Co., through its investment platforms, has managed more than $500 million of real estate investments over the last 15 years.

HOUSTON — NewQuest Properties will break ground on additional retail space in its 46-acre Spring Town Center in tandem with the first-quarter opening of the Grand Parkway in northwest Houston. The 320,497-square-foot Spring Town Center is the largest and closest retail development to the Kuykendahl Road exit of the Grand Parkway’s $1.1 billion extension from U.S. 290 to U.S. 59. Kuykendahl Road bisects Spring Town Center, with its northeastern corner anchored by Walmart, a 12-screen Cinemark and Palais Royale and the southeastern tract anchored by Lowe’s Home Improvement Center and Sprouts Farmers Market. NewQuest will be adding an 11,550-square-foot freestanding building on the southeastern corner. The new structure will front Kuykendahl Road, adjacent to the newly opened El Pollo Loco. Designed by NewQuest’s in-house architects, the building will deliver in the fall.