Outlets at Corpus Christi Bay Has New Owner

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Publish Date: February 07, 2019

Outlets at Corpus Christi Bay, located in Robstown, Texas, was purchased by Real Estate Holdings for $42 million at auction on Wednesday, Feb. 6, 2019.

Previous owner Lockard Outlets Corpus Christi Bay had failed to make a payment of $65 million on the center, which led to foreclosure. The center opened in Robstown, Texas, in March 2017. Real Estate Holdings, a subsidiary of the lender on the property, Interbank in Oklahoma City, Okla., was the sole bidder of the property.

Mike Sterkel, Interbank CEO, told Corpus Christi Times that the bank will “operate the property as long as we own it.”

The Woodmont Company has been hired to manage, lease, promote and market the 365,000-square-foot center with brands including Nike Factory Store, Maurices, Zales, Skechers and Torrid.

“In the short term, there will be a fairly seamless transition,” said Fred Meno, president, CEO, of asset services for The Woodmont Company. “We have a good onsite staff here, and we’ve retained the entire team. We’ve already met with executives from the city of Robstown and they’re very supportive.”