January 30, 2020
McLeod Sears of Houston is readying to redevelop a seven-acre site in Portland, TX near Corpus Christi. The developer plans to raze a shuttered 82,939-square-foot Kmart at 1400 Wildcat Dr. In its place, McLeod Sears will build 25,200 square feet of high-end shop space and restaurant/retail pad sites. The developer is expected to complete the project in summer 2021.
To advance the project, McLeod Sears has received a sales tax incentive from the city. The developer also has signed its inaugural ground lease – a 1.4-acre pad site for a Chick-fil-A restaurant. David Hardesty of Hardesty Realty Group represented the restaurant.
The Kmart store was still open when McLeod Sears acquired it in 2017. “We loved the real estate. We knew it would be great real estate whether or not Kmart was there,” said Michael McLeod-Cobb with the development firm. The store closed in 2018.
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