HEB Grocery Co. Buys Naming Rights To Cedar Park Center

CEDAR PARK, TX -- The HEB Grocery Co. has bought the naming rights to the Cedar Park Center, which now will undergo a name change to the HEB Center at Cedar Park, according to a published report.

The name change was scheduled to be officially announced Friday night at the events venue during a concert by The Band Perry, reports the Austin Business Journal.

The business publication reports that financial terms weren't disclosed. But they cited SportsBusiness Journal in estimated annual naming rights costs for a minor-league arena to typically run between $300,000 and $500,000 -- sometimes even as high as $1 million annually.

HEB executives said this represents the first time the San Antonio-based grocer has purchased the naming rights for a sports stadium.

The 7,000-seat Cedar Park Center is owned by the City of Cedar Park, but the site is managed by Texas Stars LP, a subsidiary of Northland LP, which owns the Texas Stars' minor league affiliate of the National Hockey League's Dallas Stars. Northland LP bought the Texas Stars in 2014.

The Cedar Park Center opened in 2009.