Neighborhood strip center Katy Green finds new owner in Houston, TX suburb

  

Gianna New

HOUSTON, TX, Oct. 22, 2024 –  JLL Capital Markets has arranged the sale of Katy Green, a 14,920-squre-foot shopping center in Houston, Texas. The price was not disclosed.

 

JLL represented Wile Interests, Inc., the seller, in the transaction and secured a private investor as the buyer.

Amanda G. Altman

JLL Capital Market’s Investment and Sales Advisory team was led by Senior Managing Director Ryan West, Senior Director John Indelli and Analyst Gianna New.

Ryan West

“With the recent interest rate cut by the Federal Reserve we’re entering a more robust liquidity cycle which should create additional demand,” said Indelli. “We have a meaningful imbalance with buyer demand outpacing supply of available shopping centers for sale.”

John Indelli 

Strategically positioned at 19227-19235 Katy Fwy. at Greenhouse Road, Katy Green Shopping Center benefits from its hard corner location adjacent to I-10, which experiences an average daily traffic of over 200,000 vehicles.

“This center will stand as a much-needed beacon of hope and healing for women, children, and families in our area,” said Amanda G. Altman, CEO of Kristi House. “This partnership marks a significant step toward achieving our vision of a permanent, safe sanctuary. By co-owning this space, we are investing in the future of our community and ensuring lasting stability for the life-changing services we provide.” 

The Sanctuary

Moreover, the rapidly growing population base surrounding the center provides a consistent flow of local customers, ensuring steady traffic throughout the day and evening. The presence of well-known, national tenants such as Starbucks and Potbelly further enhances the retail complex’s appeal.

 The 31,514-square-foot property consists of two connected buildings with office and classroom space, along with two parking lots on a two-acre site. The signature building is a 6,500-square-foot church building, “The Sanctuary,” designated as a historic landmark in the City of Homestead. 

 

Houston's retail market is robust, driven by a diverse and expanding population that fuels demand for retail spaces. In this thriving West Houston/Katy Corridor sub-market, with a 96% retail occupancy rate, limited new development helps maintain strong fundamentals and high tenant retention.

 

 Two parking lots on a two-acre site. The signature building is a 6,500-square-foot church building, “The Sanctuary,” designated as a historic landmark in the City of Homestead. 

 

The Katy submarket boasts strong economic fundamentals, with an average household income of $127,246 within a one-mile radius of the property and a thriving job market featuring over 120,000 jobs across diverse industries as well as over 13,000 companies.

 

Constructed in 2013, Katy Green is a part of the 16-acre mixed-use retail and office campus, the only such mixed-use campus in the Energy Corridor/Katy sub-market. This well-established center boasts an impressive 100% occupancy rate, reflecting its prime location and diverse tenant mix.

 

 CONTACT:

Angelic Bringas
Account Executive
abringas@boardroompr.com
C 786-202-5773
O 954-370-8999
Web | Facebook | Instagram | LinkedIn