It Has a Strategic Location, Just a Step Away from the New Walmart
As originally published by Texas Border Business newsprint edition October 2016.
According to Joaquin Spamer, the developer of Practical Business Plaza, it took several years to accomplish the construction of this facility. He said that as a business person, it is important to know the business cycle that is appropriate to make a project successful.
Practical Business Plaza was planned more than a decade ago, but Spamer felt there were some uncertainties in the U.S. economy back then that made him postpone the project to this date.
Today, Practical Business Plaza is a 38,000 square foot retail development on Jackson Rd. in Pharr Texas. Its location is strategic, just one step away from Walmart, located on the corner of Jackson Rd. and Dickers Rd. along with a Whataburger and a Buffalo Wild Wings restaurants.
It’s easy to see that the South side of Pharr is growing by leaps and bounds and the national stores are setting up shop and doing well; it’s a signal for business people to recognize. “All these new businesses have been very successful,” Spamer told Texas Border Business.
Sergio Contreras, the Director of the Economic Development Corporation (EDC) in Pharr, said, “We thank Joaquin Spamer for investing in South Pharr; Practical Business Plaza will help attract retail development and provide additional choices for our residents in South Pharr.”
Also, he said that Spamer’s investment is vital for our community because it demonstrates the confidence the business community has in the City of Pharr.
“The multiple schools surrounding the property were built to accommodate the fast growing population of South of Pharr in Las Milpas. Also, the tremendous growth of the Industrial Parks and Produce distribution centers in the area,” said Spamer, the developer.
One of the many pluses that this area has is that the traffic count continues to increase in South Pharr. On this, Contreras added, “High traffic attracts investment and development by influential investors such as Mr. Spamer.” He continued, “We’ll continue to work with investors to help them develop and provide a better quality of life for our residents.”
He also pointed out that considering the value that the Practical Business Plaza will bring to the City of Pharr, the Pharr EDC supported the project with incentives for infrastructure development. He said, “The area is prime for it.”
It is important to note that Pharr’s population has skyrocketed to 77,241, and that is an impressive number that continues to grow.
The fact that Practical Business Plaza is there is because Spamer recognized the value of the area. Since he selected the location about ten years ago, it makes him a visionary because he saw what was coming to an area when nothing was there.
Contreras said that under the direction of the Pharr EDC Board of Directors, they engage with the business community by being professional and ethical. “Our goal is to demonstrate to business people like Mr. Spamer that we are a business-friendly community that takes pride in collaborating and being transparent with our business partners.”
Practical Business Plaza is composed of two phases. Phase I of the development has been completed; it includes 14,000 square feet of leasable space and has 152 parking spaces available. Phase II is projected to break ground in early 2017. A proposed “L” shaped, 2-story building including 12,000 square feet of retail on the first floor and 12,000 square feet of executive and beauty suites on the top level is now available for pre-lease.
Spamer said that there is a 1.3-acre pad on the corner of Jackson Rd. and Las Milpas Rd., also known as Practical Corner. The pad is available for Lease, Sale or Build-to-Suit.
According to Spamer, the business plaza has received much interest and is currently negotiating with a dental group and a national restaurant tenant. “This commercial plaza would make a great home for a new Pharmacy and other retail users that can provide new businesses to the underserved residents in the area,” he finalized.
Spamer said that Claudia Ayarzagoitia is the Broker in place at “Retail Source Real Estate”; call (956) 998-4011 for leasing information. TBB