Investors purchase former McAllen Toys R Us

Shoppers line the front of Toys R Us in McAllen during "Black Friday" shopping on Thanksgiving night, Thursday, Nov. 22, 2012. photo by Joel Martinez/jmartinez@themonitor.com

The 45,000-square-foot McAllen building that formerly housed the recently bankrupt Toy R Us was purchased in a joint venture by a pair of Houston-based companies, Murdoch Capital LLC and Parkway Partners, according to a news release.

The 4.5 acres located at 1101 W. Expressway 83 is slated for potential redevelopment, though no plans are finalized.

“When you see such a vibrant retail market like McAllen, one where existing tenants are opening additional locations and new tenants are constantly entering the trade area, it’s really encouraging,” Brian Kaplan of Parkway Partners said in the release.

Redevelopment plans for the property have not yet been finalized, the release further stated.