Keen Realty’s Redevelopment Expertise

April 27, 2023

Keen Realty’s Redevelopment Expertise

It is common for a grocery-anchored retail center to lose its anchor tenant and begin a rapid slide into decay. There are however examples where the center is redeveloped into something new and different, even better, and more of an amenity for the surrounding community. One such example is 4801 Highway 6 South in Missouri City, Texas where a former Albertson’s Grocery store closed.

Keen’s redevelopment of the site turned a failed and tired former grocery-anchored property into a thriving, attractive, and energetic development with the first theatre (Star Cinema Grill) built in Missouri City. Keen raised equity from 30 different investors who shared our vision and successfully executed this redevelopment. Not only does the center look much better and provides a much-needed amenity for the community, but we also exceeded our investors’ pro-forma returns!  After obtaining 100% occupancy, the center was sold to new investors but the community continues to benefit.

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