The former Toys R Us site adjacent to La Plaza Mall in McAllen will soon undergo redevelopment by Houston-based Murdoch Capital LLC and Parkway Partners. Property plans have not reached finalization, but the partners report positive feedback in the preliminary stages of its marketing.
“McAllen has a strong reputation for high retail sales volume, so we jumped at the opportunity to purchase this site as soon as it became available,” said Jonas Fertitta, founder and managing principal of Murdoch Capital.
“When you see such a vibrant retail market like McAllen, one where existing tenants are opening additional locations and new tenants are constantly entering the trade area, it’s really encouraging,” said Brian Kaplan of Parkway Partners.
With significant redevelopment potential, the 4.5-acre site maintains strong visibility at a high traffic intersection at 1101 W. Expressway 83. The 45,500-square foot box store became available when Toys R Us ceased operations after declaring bankruptcy last year.