Richmond Plaza
Retail | 9,265 SqFt
Marketing description
Richmond Plaza is a five tenant strip center located in the Greenway/Upper Kirby area. The Upper Kirby District is a vibrant commercial and retail hub, with numerous shops, restaurants, and entertainment options. The area is known for its upscale and trendy establishments, attracting residents and visitors alike. The Greenway/Upper Kirby area benefits from its proximity to major roadways, including US-59 and I-610, making it accessible for commuters and providing easy connections to other parts of the city. The neighborhood has undergone significant redevelopment and revitalization efforts, leading to improvements in infrastructure, streetscapes, and overall livability.
Investment highlights
Richmond Plaza is a 9,265 square foot shopping center located in the Greenway/Upper Kirby area. Easy reach from Interstate 69 and Interstate 610 with 268,500 CPD and 201,485 CPD respectively.
The property benefits from multiple entry points. There are two points of ingress/egress on Richmond Avenue. The property is well positioned within minutes from the Galleria Mall, the 7th largest mall in the United States, and Rice University. Richmond Plaza is well positioned to serve the densely populated area and the surrounding upper-income households nearby.
The property has structured rent increases to provide a valuable hedge against inflation. There is a staggered rollover schedule and 38% of GLA has been leased to the same tenants for more than a decade. Great opportunity for retailers to benefit from the nearby upscale mixed-use developments in Uptown District of Houston, Texas.
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