Market Heights Shopping Center

Market Heights Shopping Center at 201 East Central Texas Expressway has been sold to the original developer who launched the regional shopping site in 2008.

HARKER HEIGHTS — Market Heights Shopping Center, a 62.23-acre retail site at 201 East Central Texas Expressway, has been sold to its original developer.

Direct Retail Partners, operating as Direct Development, developed the 417,167-square foot regional shopping center in 2008. The company announced earlier this month that JLL Capital Markets has arranged for the sale and financing of the shopping center, according to a news release.

The purchase price was not immediately disclosed.

JLL worked on behalf of an institutional seller and procured the buyer in an off-market transaction. JLL also arranged an equity contribution and placed the four-year, floating-rate acquisition loan with Bayview Asset Management.

Market Heights Shopping Center, one of the Temple-Killeen area’s larger retail sites, at the corner of Interstate 14 and FM 2410, sees a combined 58,930 vehicles per day. The center is 89.4 percent leased and home to a diverse retailer lineup that includes Cinemark, Dick’s Sporting Goods, Barnes & Noble, Ross Dress for Less, Old Navy, Petco, Ulta Beauty and Bed Bath & Beyond, along with shadow anchors Target, Cracker Barrel and Chick-fil-A.