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EL PASO, Texas, June 26, 2025 - River Oaks Properties has agreed to sell 9 shopping centers in El Paso, Texas to a combination of MIMCO-managed investment partnerships.
Statement from Adam Frank, President of River Oaks:
“River Oaks continues to own and manage over 100 properties totaling over 5 million square feet in El Paso. Over the last 10 years, the company’s core investment focus has been in ground-up power center and grocery-anchored assets. As to the future of our company we will continue to look for opportunities in El Paso and other strategic markets as we grow the portfolio.”
Statement from Scott Walker, President of MIMCO:
“MIMCO’s focus continues to be on growing and effectively managing our portfolio, which now includes over 350 properties in Texas, New Mexico, and Arizona, totaling over 8 million square feet. Over half of our portfolio is located in El Paso, signifying our strong belief in the city and region. We appreciate our friendly competitors at River Oaks as they’ve been great to work with throughout this transaction.”
About River Oaks Properties, LTD Founded in 1959, River Oaks Properties is a national owner of retail properties, primarily focused on El Paso, South Florida, and other markets across the country. Our success is driven by strategic investments in high-traffic, rapidly growing areas, a steadfast commitment to quality construction, and a proactive approach to property management. With a portfolio of over 190 properties, we have earned an unparalleled reputation for excellence in commercial real estate. Our in-house teams specializing in construction, accounting, property management, and leasing enable a fully integrated and efficient approach to property development and operations. For more than six decades, we’ve built long-term investments that support the growth of local communities and foster strong, lasting partnerships with both regional and national businesses.
About MIMCO, LLC MIMCO, LLC (“MIMCO”) is a vertically integrated commercial real estate investment firm and management company based in El Paso, TX, with a 50-year track record of investing in and operating properties across Texas and the Southwestern US. Since its formation in 1972 the MIMCO managed portfolio has grown to include over 8 million square feet of retail and warehouse assets. Members of the MIMCO team are leaders in the commercial real estate industry and their communities and have built a company reputation as an organization with integrity and commitment to managing and operating projects that strengthen the community.
For Inquiries:
River Oaks Properties, LTD: afrank@ropelpaso.com
MIMCO, LLC: press@mimcoproperties.com
Mike Martinez - KISS FM
The northeast’s come up is real, y’all.
First, a brand-new Olive Garden opened in February followed by a Burlington in March. And now, a Dutch Bros Coffee and four other new businesses will open on that side of town by the end of the year.
Northeast El Paso Seeing Long Overdue Growth
Northeast El Paso has been undeserved by businesses for years, but more shopping and dining establishments are opening locations in the area or announcing plans to do so.
And it’s not just restaurants and department stores. A residential community that will includes homes and apartments, a school, and a hike and bike trail system is currently being developed near Painted Dunes Golf Course.
Dutch Bros Coffee Brewing Up Northeast Location
If you’re a coffee connoisseur and you live or work in northeast, you’ll be happy to know Dutch Bros Coffee is expanding to your side of town in 2022.
Documents show a franchise location will be going up at 4810 Woodrow Bean Transmountain Dr.
Like the two Dutch Bros’ that have already opened around El Paso and the three currently under construction, the future northeast location will have a double drive-thru lane and walk-up window. There will not be any indoor seating.
Where On the Northeast Is It Going to Be?
An site plan illustration shows it adjacent to Olive Garden.
As of this writing it’s still an empty lot, but according to documents submitted to the state, construction is expected to begin in mid-June and a projected completion in mid-to-late September. However, those dates aren’t always set in stone. (Pun totally intended.)
4 Other New Businesses Coming to Northeast
The area along Woodrow Bean Transmountain and Kenworthy has seen numerous businesses pop up over the last year or so. The Shack Wings & Brews, Boozy Tacos and Tap, Gentleman’s Barbershop, Teapioca Lounge, and a Pizza Hut have all recently opened.
Currently, under various stages of construction, is a Tommy’s Express Car Wash, Jiffy Lube, Marco’s Pizza, and Tropical Smoothie Café. All will likely open by the end of the year.
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Ashlee Burns Corpus Christi Caller Times
Several new stores are coming to the Five Points Shopping Center in Calallen.
A Freedom Fitness is opening soon in Calallen. The gym will be in the former 5 Star Cinema building at 4147 I-69 Access Road in the Five Points Shopping Center. According to the MIMCO properties website, new stores including a Big Lots, DD’s Discounts, Melrose and The Boot Jack could open soon.
A rendering from the property owner shows a Big Lots store replacing the Hobby Lobby. The Hobby Lobby recently moved into a new location at 3549 IH 66 Access Road.
According to the property owner, MIMCO, website, new stores including a Big Lots, DD’s Discounts, Melrose and The Book Jack are expected to open. The new store won’t take up the entire space formerly occupied by the craft store. The rendering shows a 9,375-square-foot lot and a 4,530- square-foot lot could also be available.
A dry cleaners, a dentist office, a Tipsy Canvas BYOB painting studio and an insurance office are also shown on the map. Two suites and two proposed suites are still available, according to the website.
It’s not clear when the stores will open.
MIMCO, a retail investment and development firm based in El Paso, acquired the shopping center in 2018.
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Visit MIMCO’s newest development at the corner of Woodrow Bean Transmountain and Kenworthy St for an excellent lineup of tenants! Open now or coming soon are Olive Garden, Boozy’s Taco’s and Tap, Pizza Hut, Teapioca, Gentleman’s Barber Shop, Staybridge Suites, Jiffy Lube and Tommy’s Carwash Express.
The remaining land parcels up to 1.00 AC are avaialable For Lease, For Sale, or Build-to-Suit. Contact us today for more information: (915) 779-6500 or leasing@mimcoproperties.com
San Antonio, Texas: Commercial real estate firm MIMCO has partnered with San Antonio based non-profit, Emerge and Rise. The two companies will work together to increase the growth and advancement of local small businesses.
MIMCO, a well-established real estate management and investment company, attributes its success to maintaining high standards in service to ensure that its properties are well maintained and that the property management team is responsive to tenants’ needs. Headquartered in El Paso, with offices in San Antonio and Austin, MIMCO sought this partnership as an opportunity to give back to the Texas small business community. Emerge and Rise, is a small business incubator presenting professional opportunities and guidance to underrepresented entrepreneurs. The incubator focuses on providing tools and beneficial resources to owners such as veterans, minorities, women, immigrants, and previous felons.
“Emerge and Rise is providing valuable services to underrepresented members of the business community of San Antonio and, as MIMCO is a partner to many small businesses in the area, my team and I are pleased to offer our support to the organizations future endeavors,” said McGee Sauls, Vice President of MIMCO. “We look forward to working together with Emerge and Rise to continue to help local entrepreneurs.”
Nearing its 50th year in the industry, MIMCO is an invaluable resource for local entrepreneurs seeking to expand their knowledge in the commercial real estate field. Initiating its influence with a donation to Emerge and Rise’s business development program, MIMCO also plans to provide additional support of mentorship and expertise. In partnership, they intend to make a continuous positive impact on the communities of San Antonio.
For further inquiries about services, please visit: Emerge and Rise: emergeandrise.org
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By Taylor Williams/REBUSINESS Online
CORPUS CHRISTI, TEXAS — MIMCO, a retail investment and development firm based in El Paso, has acquired Five Points Shopping Center, a 276,593-square-foot retail power center in Corpus Christi. The property was 99 percent leased at the time of sale to several national tenants, including anchors Ross Dress for Less, Hobby Lobby, Party City and Petco. Chris Gerard, Chris Cozby, Mark Witcher and Blaine Dozier of CBRE represented the seller, Brixmor Property Group, in the transaction. The sales price was not disclosed.
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By Jessica Gonzalez / KFOX14
EL PASO, Texas — One of the newest Chick-Fil-A locations will open next week.
The location at 1300 Airway Blvd. is opening next Thursday and will bring more than 100 new jobs to the area.
It is Chick-Fil-A tradition to give up to 100 people the chance to win free Chick-Fil-A meals for a year.
Customers camp out the night before the grand opening of a new restaurant, hoping to be part of the lucky 100.
A children’s book drive will also be held. People are encouraged to bring new and gently used books to the grand opening to be put in a book house for a local youth organization.
The location at 1300 Airway Blvd. is opening next Thursday and will bring more than 100 new jobs to the area.
It is Chick-Fil-A tradition to give up to 100 people the chance to win free Chick-Fil-A meals for a year.
Customers camp out the night before the grand opening of a new restaurant, hoping to be part of the lucky 100.
A children’s book drive will also be held. People are encouraged to bring new and gently used books to the grand opening to be put in a book house for a local youth organization.
Anthony Martinez, a UTEP graduate, is the franchise owner for the Airway location. When Martinez was young, he lived in the Cielo Vista Apartments that were demolished to make way for his Chick-Fil-A restaurant.
Martinez was inspired by the culture and family-oriented atmosphere of his local Chick-fil-A and decided to pursue a career with the chain.
“We are devoted to our community and look forward to making a positive impact on the lives of our guests,” said Martinez, who brought 31 mall team members with him to the new location. “Our goal is to provide a remarkable experience for every customer, every time, by serving food our guests can truly feel good about eating, providing sincere hospitality and helping in a greater capacity than ever before.”
The restaurant will open at 6 a.m.
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By Vic Kolenc / El Paso Times / Follow @vickolenc
Published 7:00 a.m. MT April 17, 2018
Mimco Inc., a large El Paso shopping center development company, has purchased Montwood Mall on the East Side.
The 178,000-square-foot strip center, located at Montwood and Yarbrough drives, is anchored by a recently remodeled Albertsons supermarket and the Premiere Cinema Montwood Movies 7 El Paso theater. It also has a Great American Steak Burger restaurant.
Mimco bought the center April 6 from the Noddle Cos., an Omaha, Neb.-based commercial real estate development and management company.
No sale price was disclosed, but the center was listed for sale at $14.9 million by Marcus & Millichap, a California-based commercial real estate investment services firm.
The center was appraised by the El Paso Central Appraisal District for tax purposes at $7.9 million.
Mimco has been buying shopping centers in San Antonio, Austin, Dallas, McAllen and Brownsville in the past few years, but this is the company’s first El Paso purchase in three years, said Bob Ayoub, Mimco’s chief public relations officer.
“We are always looking to expand our presence in El Paso. But not much is for sale in El Paso” because Mimco, River Oaks Properties and the Malooly brothers own most of El Paso’s shopping centers and don’t sell them, Ayoub said.
River Oaks, owned by Gerald Rubin, founder of El Paso consumers products company Helen of Troy, and Mimco, headed by Meyer Marcus, are El Paso’s largest developers of strip shopping centers.
Noddle officials were not immediately available Monday for comment about the sale.
“The (Montwood Mall) center has always done well. It has good demographics in the neighborhood, and good traffic,” Ayoub said. A new Circle K convenience store and gas station is being built across the street from the center, he noted.
Most of the center is leased, with “only about 5,000 to 8,000 square feet available,” Ayoub said.
The center also includes an Ace Hardware store, a Family Dollar and a Fallas discount clothing store.
The center was built in 1955, and has had several renovations over the years, according to a Marcus & Millichap sales brochure.
The center years ago was a minimall, with a large part of the center enclosed from the supermarket building to the movie theater building, said Alfredo Aguayo, maintenance manager at the center, where he has worked for 39 years. The only remaining enclosed portion is where the seven-screen movie theater is located.
The Montwood 7 movies theater was bought several years ago by Premiere Cinemas, a Big Spring, Texas, movie theater chain, which also operates a theater in Bassett Place.
Vic Kolenc may be reached at 546-6421; vkolenc@elpasotimes.com; @vickolenc on Twitter.
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MIMCO, one of El Paso’s largest commercial real estate development and management companies, is the new owner of a shopping center on the Eastside.
About three weeks ago, MIMCO closed the deal to acquire Montwood Shopping Center, which is home to an Albertsons grocery store, Great American Steakburger, Ace Hardware and Montwood Movies 7.
MIMCO bought the 178,000 center at an undisclosed price from Noddle Companies, a real estate firm based in Omaha, Nebraska, that owned the property since the late 1980s.
“We’re just excited about making another investment in El Paso, and we’ll continue growing our retail base,” said MIMCO executive Bob Ayoub. “It’s a great neighborhood.”
Ayoub said he sees potential in the aging shopping center at the intersection of Yarbrough and Montwood, but they don’t have any development plans yet.
MIMCO owns more than 320 properties and leases space to about 1,500 tenants.
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