Richmond & Fondren Center
30-Year Occupancy by Anchor Tenant | Corner Location with ±60,302 VPD
Marketing description
Northmarq is pleased to offer for sale to qualified investors, the opportunity to purchase a fee simple interest in Richmond & Fondren Plaza located at 8901-8979 Richmond Ave., Houston, TX 77063. The plaza is currently 100% occupied.
The center is 44,616 SF and includes a diverse mix of tenants — 10 tenants in the main retail center, 2 outparcels. The tenants have an average weighted occupancy of over 10 years. The anchor tenant, Metropolis & Extravaganza (M&E), has been here over 30 years, since late 1994. M&E just signed a new 5-Year extension starting 10/1/2026 with 2% annual rent increases.
The pad site directly on the corner of Fondren Road and Richmond Avenue may be included or excluded from the sale. The owner had a LOI starting at $217,200 NNN for 5 Years. That tenant took some in-line space.
Investment highlights
- 30-Year Occupancy by Anchor Tenant
- Corner Location with ±60,302 VPD
- 100% Occupied by 10 Tenants plus 2 Outparcels
- Weighted Average Occupancy of over 10 Years
- Additional Income by Acquiring Corner Pad Site
- Huge Population Base & Affluent Customers - 544,000+ people & an Avg. HHI over $120,000 within 5 miles
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