Thursday, September 17, 2009

Development Boost Along Expressway 83 | Jackson Triangle McAllen, TX | NAI Rio Grande Valley

Development Boost Along Expressway 83
By Elizabeth C. Martinez
Valley Business Report

As economic pressures seem to be easing in certain parts of the country, phone calls from individuals making inquiries about retail and office space in McAllen has increased recently, according to Mike Blum, partner and managing broker for NAI Rio Grande Valley.

“In the past few weeks there have been more calls and showings of property for office and retail space,” Blum related. “The properties that people show most interest in McAllen are on North 10th Street, the downtown area, and especially along Expressway 83.”

One commercial retail plaza that has been constantly improving is Jackson Triangle, which is located on the Northwest corner of the intersection of Expressway 83 and Jackson Road in McAllen. The property will consist of approximately 37,800 square feet of retail space. The first of the Jackson Triangle tenants included Taco Cabana and AT&T. Since then, Baskin Robbins and Pay-N-Trade have joined them. Most recently, a sign for Cabrito Grill Steaks and Piano Bar went up.

Some of the most important things that businesses think about when choosing a retail of office space include: Is the location an ideal spot? Is there traffic in the area? And is it the right price?

Pedro G. Ayala, president of PGA Studio, Inc. a McAllen-based architecture firm, thinks about these questions when he signs on to work on a project.

“As a design principal for the firm, I feel I have a responsibility to create spaces that are going to be right for the occupants as well as their consumers,” Ayala explained.

“When it comes to building a retail environment, we always think about not only accomplishing the owner’s goals such as maximizing the site and cost constraints, and creating an attractive façade for the community and not turning it’s back on a major street as seen in other Big Box Retail Zones.”

Ed Alvarado, AIA, who worked on the Jackson Triangle project with Ayala, noted that the area is exposed to over 170,000 vehicles per day. Because of its unique triangular shape, doors face the bordering streets, thus creating the most storefront for the owner and the tenant. Not bad, for businesses who seek visibility.

Given the positive signs commercial real estate is beginning to move in the Upper Valley, there still remains to be a heighten focus on falling rent prices and the increasing number of defaults on commercial real estate loans.


Elizabeth C. Martinez is a partner in the public relations firm of Media Morphosis phone (956) 821-8662. Martinez served as Managing Editor and General Manager of The Business Times

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