Sunday, May 21, 2017

HFF closes sale of fully occupied retail center near Houston, TX

Grand Crossing II Retail Center, Katy, TX

 HOUSTON, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Grand Crossing II, an 8,500-square-foot, newly developed, fully leased retail strip center located at the confluence of Interstate 10 and Grand Parkway in the Houston-area suburb of Katy, Texas.

HFF marketed the asset on behalf of the seller, Edifis Group.  Urbahns Property Group purchased the property free and clear of existing debt.

Grand Crossing II is 100 percent leased to Sleep Number, GrandLux Nail and American Dental Partners.  Completed in 2016, the one-building strip center is shadow anchored by Costco. 

Ryan West
Situated on a full acre at 23641 Katy Freeway, Grand Crossing II is at the highly visible southwest corner of where Interstate 10 and Grand Parkway meet, providing the center visibility from more than 357,000 vehicles per day.

 The property is part of the larger 125-acre Grand Crossing mixed-use development, which upon completion will include state-of-the-art multi-housing, office and retail uses that will be fully walkable. 

Approximately 93,101 people earning an average annual household income of more than $107,000 live within a three-mile radius of the center.

Katy is one of the fastest-growing residential communities in the United States due to its quality of life, great schools and low crime rate.  There are several globally recognized corporations headquartered within a few miles of Katy (and Grand Crossing), including Igloo, BP Americas, ConocoPhillips and Academy Sports & Outdoor as well as premier medical facilities.

 Due to these factors, Katy has been the recipient of several awards and accolades including “100 Best Places to Live” by Relocate America and “Top Houston-area School District” by Niche.    

The HFF investment sales team representing the seller was led by senior managing director Ryan West.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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