Property History
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Marketing Description
ATTRACTIVE ASSUMABLE DEBT
Investment Highlights
- PROMINENT WEST HOUSTON LOCATION | DIRECTLY ACROSS FROM BP HEADQUARTERS
Many energy sector companies have major operations in the Energy Corridor, including Citgo, ConocoPhillips, Shell Oil Company, and BP America, whose headquarters parallels the Property. Non-energy firms also have a presence; Sysco and Gulf States Toyota Distributors are both headquartered in the district. The Energy Corridor contains over 24 million square feet of office space, with an employment capacity of over 105,000. - HIGH BARRIERS TO ENTRY | SURROUNDED BY DENSE RESIDENTIAL & OFFICE DEVELOPMENTS
The Shops at Memorial is located just South of Interstate 10, in the heart of Houston’s prominent Energy Corridor which is home to more than 24.3 square feet of office and a daytime population of nearly 103,000 within a 3-mile radius. The area has seen a 17.5% increase in population since 2010, with subsequent increases in retail and multi-family developments totaling 4.8 million square feet and 22,021 units, respectively. - EXCELLENT PROPERTY FUNDAMENTALS WITH FUTURE UPSIDE POTENTIAL
• 100% Occupied High-Quality Retail Center | Dynamic Tenant Mix
• Fully Renovated in 2019, the Property will need Minimal Capital Improvements Moving Forward
• Contractual Rent Bumps Throughout Hold Period - SUPERIOR LOCATION WITH AFFLUENT DEMOGRAPHICS
• Positioned One Block South of Interstate 10 and 1 Mile from Highway 6
• Located on a Hard Corner at a Signalized Intersection | Exposure to Nearly 60,000 VPD
• Surrounded by Destination Retailers such as HEB, Randall’s, Kroger & Spec’s Liquor
• Well-Educated Population as 60% of Residents Holds a Bachelor’s or more Advanced Degree
• Average HH Income Exceeds $119,000 within a 3-mile Radius & Swell to $148,453 within 1 Mile
Property Type
Property Type
Property Subtype
Investment Highlights
- Significant Upside Potential
- Must have Retail Corridor
- Stable In-Place Returns
- Recently Renovated
- Prominent West Houston Location
- Below Market Rents
- Phenomenal Retail Corridor Fundamentals
- High Performing Houston Retail Market
- Proximity to Global Enterprise
- Affluent, Well-educated Residential Population
- High Surrounding Population Growth
- #1 In Nationwide Job Growth
- Highest Performing Retail Market in the Country
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Contact Information
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Ownership Information
Property Details
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Contacts
Sold: Multi APN Sale on
BY:
Ryan West PRO
•••.•••.3535
••••.west@•••.com
Sold: Multi APN Sale on
BY:
John Indelli
•••.•••.3407
••••elli@•••••.com
Sold: Multi APN Sale on
BY: Charles Strauss
•••.•••.6574
••••auss@•••••.com
Sold: Multi APN Sale on
BY:
Ethan Goldberg
•••.•••.2311
•than@•••••••••••.com
Sold: Multi APN Sale on
BY:
Bryan Strode
•••.•••.1534
•••rode@•••••••••••.com
Listing removed on
BY:
Matt Berry PRO
•••.•••.1640
••••.•erry@••••.com
Listing removed on
BY:
Robbie Kilcrease
•••.•••.1657
••••••.•••••ease@••••.com
Listing removed on
BY:
Drew Reinking
•••.•••.1579
••••.••••king@••••.com
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