PlaceMKR Acquires Multi-State Retail Portfolio Under Long-Term Triple Net Lease from LCN Capital Partners for $31.85 Million

PlaceMKR Acquires Multi-State Retail Portfolio Under Long-Term Triple Net Lease from LCN Capital Partners for $31.85 Million

Portfolio Anchored by Nationally Recognized At Home Furnishing Stores Brand Offers Long-Term Income and Future Development Opportunities at Below-Replacement Cost

First Expansion Outside of Texas

PlaceMKR, a Texas-based real estate investment and development firm focused on acquiring flexible and differentiated assets, today announced the acquisition of a five-property, multi-state, single-tenant, long-term triple net lease retail portfolio anchored by At Home furnishing stores for $31.85 million. The portfolio was purchased from LCN Capital Partners and the deal was brokered by Bryn Feller and Josh Dicker of Northmarq.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260922622425/en/

At Home at 1600 W. Kelly Ave. in Pharr, Texas.

Founded in 2018 by Christopher Cortese and Jesse Weber, PlaceMKR, headquartered in Austin, Texas, is an owner and developer of industrial, office, multifamily and retail properties. The firm owns and develops properties across Austin, Dallas, San Antonio and Houston. This acquisition expands PlaceMKR beyond Texas for the first time, establishing a presence in Mississippi and Ohio while reinforcing its value-oriented strategy as a flexible, disciplined basis buyer.

“In today’s big-box real estate market, the high cost of new construction has created a significant gap between replacement cost and acquisition basis,” said Chris Cortese, co-founder of PlaceMKR. “We acquired these five high-quality, income-producing properties for less than one-third of what it would cost to build similar assets today. Paired with long-term triple net leases, strong locations and additional development potential within each location, we believe the portfolio represents a significant investment opportunity for PlaceMKR.”

CBRE's 2026 U.S. Real Estate Market Outlook reinforces this market dynamic, stating that retail availability is experiencing “historic lows” and that “new construction will remain limited due to financing constraints, high costs and limited land availability.” These supply constraints are occurring alongside financial pressure within the retail sector, with several retailers, including At Home, having undergone restructuring in recent years.

After emerging from Chapter 11 in October 2025, At Home is financially stable and operates 229 stores across 39 states. All five properties acquired by PlaceMKR in this transaction are well-performing At Home locations with strong sales volumes and prominent positions in high-traffic retail corridors. The properties comprise approximately 534,000 square feet across more than 46 acres and include identified outparcel sites at each location for development.

“The upside of this portfolio extends beyond the existing At Home locations,” said Jesse Weber, co-founder of PlaceMKR. “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. We have a proven track record of enhancing the value of our properties and look forward to replicating this strategy with this acquisition.”

The portfolio properties are located at:

• 1600 W. Kelly Ave. in Pharr, Texas;
• 642 S. Walnut Ave. in New Braunfels, Texas;
• 2650 W. Interstate 20 in Grand Prairie, Texas;
• 15065 Creosote Road in Gulfport, Mississippi; and
• 2244 S. Reynolds Road in Toledo, Ohio.

About PlaceMKR

PlaceMKR is an Austin-based real estate investment and development firm that specializes in identifying and acquiring differentiated properties across the Sun Belt region. Founded in 2018, PlaceMKR is a leading owner of industrial, IOS, data center, office and retail space. Alongside their acquisition and investment business, PlaceMKR has also developed several ground-up projects with several others in the pipeline.

Katie Russo
ThroughCo Communications
krusso@throughco.com
501-282-5069

Elliot Sloane
ThroughCo Communications
esloane@throughco.com
917-291-0833

View source version on businesswire.com: https://www.businesswire.com/news/home/20260922622425/en/