CenterPoint Commercial Properties has advanced its plans for Village at Soma Creek in Waxahachie, Texas with the acquisition of a 12-acre retail development site at the northeast corner of US-77 and Grove Creek Road. The purchase positions the company to move forward with a key piece of what is envisioned as a major new retail destination in the area.
The newly acquired land represents a significant portion of the planned retail footprint at Village at Soma Creek. According to CenterPoint, the parcel is part of an approximately 22-acre retail component within a larger 76.7-acre master-planned project. The balance of the site, roughly 54.7 acres, is planned for residential use, creating a mixed-use environment that combines housing with shopping, dining and services.
On the retail side, CenterPoint intends to develop the 12-acre tract with a diversified mix of national and regional retailers. The plan also calls for restaurants and service-oriented users to be integrated into the layout, aiming to create a daily-needs and destination offering for the surrounding community. The development program is expected to utilize a variety of deal structures, including pad sites, ground leases and build-to-suit opportunities tailored to tenant requirements.
CenterPoint reports that it is already in active discussions with multiple national tenants for locations within the Village at Soma Creek retail component. While specific brands have not been disclosed, the company noted that negotiations are underway on lease terms and site opportunities, indicating early tenant interest ahead of vertical development.
On the capital side, acquisition financing for the 12-acre site was arranged by Ari Raskas and Matthew Sheard of CenterPoint Commercial Capital. The financing effort was executed through CenterPoint’s recently launched nationwide debt and equity placement platform, which focuses on sourcing capital for the firm’s projects and potentially for third-party clients. Specific loan terms, lender identity and capitalization details were not disclosed.
As CenterPoint advances planning and negotiations, the Village at Soma Creek retail component is positioned as the commercial anchor within the broader master-planned community, with the residential acreage expected to complement the long-term performance of the shopping and service offerings once fully built out.
