Colonnade of The Woodlands, a 42,030-square-foot retail center at FM 2978 and Woodlands Parkway, was sold to private investment group SJBC XXIII, LLC, according to a March 13 news release from SVN | J. Beard Real Estate.

The center’s major tenants include Gringo’s Mexican Kitchen, School of Rock, F-45 Training, Zoo Health Club and Bear Branch Animal Hospital.

SVN | J. Beard Real Estate will handle leasing and management for the center, according to the news release. The sellers were undisclosed, according to the news release.

Quote of note

“This prime retail development in The Woodlands was one of the very few privately owned commercial properties available at the time of acquisition," Marshall Davidson, chief investment officer, with The J. Beard Real Estate Company, said in the news release. "Despite the stability of essential retail and The Woodlands’ high barriers to entry, it offered upside potential. ... Colonnade of The Woodlands is fully leased and presents opportunities to boost rental income through lease expirations, tenant mix optimization, and enhanced financial performance."