Commercial real estate developer, SimonCRE ends the year by investing in a one-acre property in Alice, TX. The site has two existing buildings, one is currently vacant while the other is a thriving EZPawn retail store. 

The EZPawn building will have an additional 1,920 square feet constructed on its south side. Construction of the building expansion will begin after the first of the year with completion expected in second quarter of 2015. The EZPawn store will remain open to customers throughout construction.

The Alice, TX location is the fourth EZPawn retail shop that SimonCRE is developing this year in conjunction with parent company EZCORP. Of these four projects, three are located in Texas cities with the other in a south Chicago neighborhood. While the geographic dynamics differ between the locations, consumer needs within each market are similar, prompting the corporate expansion and renovations.

EZPawn is the retail arm of EZCORP (Nasdaq: EZPW ), who is the market leader in specialty consumer finance. The organization began in 1989 as 16 individual pawn stores were combined under one entity, all focused on delivering solutions to their customers. Today there are more than 470 EZPawn stores throughout 19 states in the U.S. and Mexico. The retailer assists consumers with short-term cash needs through collateralized personal property loans, purchasing unwanted merchandise or through paycheck advance signature loans.

“Because they have such a firm understanding of their consumers’ needs, EZCORP is a great retailer to work with on development projects,” says Joshua Simon, president of SimonCRE. “The design and construction process is fluid and efficient with decisions made quickly. This allows us to deliver a completed project to the community on time and within budget.”