“Lewisville Retail Center Spins Off as LRIC”

The Valley Square shopping center, located on Main Street in Lewisville, has recently been sold to a new owner. The sale was brokered by Disney Investment Group on behalf of the previous property owner, LRIC Properties.

According to Community Impact reports, the Denton Central Appraisal District values LRIC’s portion of the property at a minimum of $7.8 million. This includes land, retail space and parking.

The shopping center spans nearly 58,000 square feet and is home to over 20 shops including a newly opened Fiesta Mart as its anchor store. However,the grocery store was not included in the sale and is currently being marketed for purchase.

Some notable tenants that were part of the sale include Sports Clips,Cicis Pizza, The UPS Store,Fyzical Therapy Center,Sherwin Williams,and Isla Dental.

LRIC Properties is based in Dallas and specializes in developing,redeveloping,and investing in retail properties across Texas,the Southwest,and South regions.The company was established early last year (2014).

Steve Griffin

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