Megacenter Expands to FM 1960 Serving Chile and Peru Shoppers
Rendering of a former Walmart in northwest Houston which will be redeveloped as Megacenter.
HOUSTON – A former Walmart store on FM 1960 near Willowbrook Mall is being transformed into Megacenter Willowbrook, a 236,000-square-foot mixed-use facility.
Megacenter is operated by Red Megacentro, a company with more than 40 locations across Chile, Peru, South Florida and Texas. The Willowbrook development will combine a fitness center, flexible tenant space, offices, self-storage and an automotive service center within the existing structure.
Construction financing for the conversion was arranged by HFF through Icon Bank. HFF’s debt placement team representing the borrower included director Michael Johnson and real estate analyst Stuart Hepler.
“The Megacenter partners have proven to be market leaders in the adaptive reuse space and are poised for great success at Megacenter Willowbrook with an innovative mixed-use strategy that plays to the strong demographics in the area and creatively reconfigures the existing Walmart structure into a diverse and resilient income stream,” Johnson said.
Megacenter Willowbrook is planned in three phases. Phase one will deliver a 113,940-square-foot gym, 47,319 square feet of flexible commercial space and a 6,810-square-foot auto center. Phase two includes 30,754 square feet of self-storage and 15,101 square feet of office space. Phase three will add another 18,439 square feet of self-storage and 10,165 square feet of offices.
The project began earlier this year and is scheduled for final completion in November 2019. Located on a 24-acre site at 7075 FM 1960, about 23 miles northwest of downtown Houston, the property sits directly across from Willowbrook Mall, a 1.45 million-square-foot regional shopping center.
