In a testament to the location, Freddy’s Frozen Custard & Steakburgers has selected a high-profile development by Houston-based McLeod Sears for its second location in the Corpus Christi MSA.
McLeod Sears is undertaking a major repositioning of a seven-acre tract in Portland, which is just a four-mile sprint to the Port of Corpus Christi and southwest Texas’ most popular beaches. Freddy’s largest franchisee in south Texas has ground-leased a 0.74-acre pad site to develop a 3,710-sf restaurant with two drive-through lanes.
“Double drive-through lanes is one of the hottest design trends in the fast-food industry,” says Michael McLeod-Cobb, who is pre-leasing and ground-leasing the seven-acre development at 1400 Wildcat Dr.
Freddy’s will be adjacent to the recently opened Chick-fil-A, the third restaurant in the market with a dual drive-through. “Both lanes are always busy,” says McLeod-Cobb, a partner in the firm. “It’s a strong beginning for our center and a sign of the times.”
McLeod Sears is planning to kick off work on utility lines in late spring for Freddy’s and AutoZone, which will be building a 7,370-sf store on its 0.74-acre pad site. Grand openings are anticipated in early 2023.
“The attraction for these national brands is Portland’s growth,” McLeod-Cobb says, “and the strength of our center’s location, which is along the most heavily traveled local and commercial route to the coast.”
Portland’s growth is tied to the $38 billion of industrial development from the petrochemical industry. Thousands of residential lots are in various stages of delivery in and around the city. The trade area’s population of more than 120,000, up 41% in the past decade, has an average household income of nearly $103,000 per year.
McLeod Sears’ seven acres, formerly housing a Kmart, are located near the intersection of US 181 and Wildcat Drive, which has a combined daily traffic count of 85,000 vehicles. Pre-leasing is underway for twin buildings, totaling 25,200 sf, for neighborhood services, specialty shops and strong restaurant brands, like Chick-fil-A and Freddy’s. There is one pad site remaining with highway frontage.
McLeod Sears’ new tenant, South Texas Custard, has 21 stores south of Austin, of which three are adjacent to Chick-fil-A and a co-tenant with the chain in several other developments. Tucker Szybala of Falcon Realty Advisors represented the Freddy’s franchisee.
“They have first-hand experience with Chick-fil-A as a co-tenant,” McLeod-Cobb says. “They were impressed with Portland and can see why this is going to be a very busy center.”
McLeod Sears is a Houston-based firm focused on finding and analyzing opportunities to make long-term, sustainable investments in communities, people and organizations.
