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Florida Firm Acquires Conroe’s Montgomery Plaza

**Florida Investor Acquires Major Conroe Retail Hub, Signaling Confidence in Local Growth**

**Conroe, TX – April 1, 2024** – Montgomery Plaza, a prominent 180,958-square-foot grocery-anchored shopping center located at 2005 N. Frazier Street in Conroe, has been acquired by Crossman Company, an Orlando, Florida-based firm. The deal, which officially closed on Friday, March 29th, marks Crossman Company’s inaugural investment in the rapidly expanding Conroe market.

The significant retail property, a cornerstone of Conroe’s shopping landscape, is anchored by a popular H-E-B grocery store and a Marshalls department store. It also houses a strong lineup of national retailers including ULTA Beauty, PetSmart, Ross Dress for Less, Old Navy, and Five Below, drawing consistent foot traffic from residents across Montgomery County.

Crossman Company purchased the plaza from Fidelis Realty Partners, a Houston-based company that had maintained ownership of Montgomery Plaza since 2006. The change in ownership signals new strategic direction for the well-established shopping destination.

John Crossman, CEO of Crossman Company, expressed the firm’s enthusiasm for their first foray into the Texas market, particularly highlighting Conroe’s economic vibrancy. “We are incredibly excited to expand our footprint into Texas, especially in such a dynamic market like Conroe,” Crossman stated. “Conroe’s impressive growth trajectory, consistently ranking as one of the fastest-growing cities in the country, presents a significant opportunity for value enhancement at Montgomery Plaza.”

The new owners plan to implement their hands-on management approach to the property, aiming to boost its value through active leasing initiatives and by strategically introducing new tenants to complement the existing mix. Jeff Crossman, President of Crossman Company, underscored the strong performance of the current tenants as a key factor in their decision to acquire the property. “The robust sales performance of the existing retailers was a major draw, demonstrating the plaza’s strong appeal and the healthy consumer base in Conroe,” he noted.

The acquisition reflects a broader trend of investor confidence in Conroe and the surrounding Montgomery County area. Fueled by an influx of new residents and businesses, Conroe has experienced explosive population growth over the past decade, driving demand for quality retail, dining, and services. Economic development leaders in Conroe frequently point to the city’s strategic location, skilled workforce, and pro-business environment as magnets for investment.

Local shoppers can anticipate potential enhancements at Montgomery Plaza as Crossman Company begins its active management and leasing efforts. The company’s strategy of “value enhancement” often translates to refreshed common areas, a more diverse tenant mix, and an improved overall shopping experience.

Further information about Crossman Company and its portfolio can be found on their official website. Details on Conroe’s economic growth and development are available through the City of Conroe’s Economic Development Council.

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