Westrock Centre, the retail-and-dining center on Hewitt Drive, has been bought by Lisa Le, a local investor who reportedly wanted to add the space to her portfolio, Bentwood Realty agent Bryan Jenkins said.
Home to 135 Prime steakhouse, George’s Restaurant Bar and Catering and Poppa Rollo’s Pizza, Westrock Centre hit the market late last year with an asking price of $10.5 million. Jenkins represented the buyer, while Bland Cromwell, Brad Davis and Gregg Glime, all with Coldwell Banker Apex, represented the sellers.
The property has an 89 percent occupancy rate, and 2019 rents total $747,468, according to information provided by the agents.
“As a local investor, Ms. Le felt it was important to keep the relationships and resources in this area,” Jenkins wrote in an email response to questions. “She has many upgrades and improvements planned for the center in order to strengthen the profitability of the tenants’ business.”
Frank Cromwell and his Cromwell Management Co. will manage Westrock.
Jenkins said Le and Coldwell Banker’s Glime are close to landing four new tenants for the property, which is near H-E-B and Walmart store in the growing Hewitt-Woodway-West Waco corridor that includes U.S. Highway 84 and Hewitt Drive.
Jenkins did not reveal the final sales price.