Texas Border Business
PHARR, Texas — Austin-based real estate investment and development firm PlaceMKR has acquired an At Home retail property in Pharr as part of a $31.85 million purchase of five properties across three states, the company announced.
The Pharr property, located at 600 W. Kelly Ave., was acquired along with properties in New Braunfels and Grand Prairie, Texas; Gulfport, Mississippi; and Toledo, Ohio.
PlaceMKR purchased the portfolio from LCN Capital Partners. Bryn Feller and Josh Dicker of Northmarq brokered the transaction, according to PlaceMKR.
The five properties are occupied by At Home furnishing stores under long-term triple net leases. According to PlaceMKR, the properties together comprise approximately 534,000 square feet across more than 46 acres and include identified outparcel sites at each location for potential development.
PlaceMKR co-founder Chris Cortese said current construction costs created an opportunity for the firm to acquire the properties at a substantially lower cost than constructing comparable retail facilities.
“We acquired these five high-quality, income-producing properties for less than one-third of what it would cost to build similar assets today,” Cortese said.
Cortese said the combination of long-term triple net leases, locations and additional development potential contributed to PlaceMKR’s decision to acquire the portfolio.
The Pharr acquisition also gives PlaceMKR a property in the greater McAllen metropolitan market. Co-founder Jesse Weber said the firm sees opportunities for additional commercial development associated with the properties.
“We see opportunities to create additional value through selling or leasing the outparcels for retail, restaurant, and other commercial uses, particularly given the strong growth and demand in the surrounding markets, including the greater Dallas, San Antonio, and McAllen metropolitans,” Weber said.
According to PlaceMKR, At Home emerged from Chapter 11 restructuring in October 2025 and operates 229 stores across 39 states. PlaceMKR described the five At Home locations included in the transaction as well-performing stores with strong sales volumes and positions in high-traffic retail corridors.
PlaceMKR was founded in 2018 by Cortese and Weber and is headquartered in Austin. According to the company, it owns and develops industrial, office, multifamily, and retail properties across several major Texas markets.
The transaction also represents PlaceMKR’s first expansion beyond Texas through the acquisition of properties in Mississippi and Ohio.
PlaceMKR said it sees additional development opportunities at the five properties through selling or leasing outparcels for retail, restaurant, and other commercial uses. The company said the existing At Home stores remain under long-term leases.
