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| Rendering of planned Megacenter Willowbrook, Northwest Houston, TX |
HOUSTON, TX –– Holliday Fenoglio Fowler, L.P. (HFF)
announces financing for the redevelopment of a former Walmart Supercenter
building into Megacenter Willowbrook, a 235,627-square-foot mixed-use project
comprising industrial flex, self storage, retail and office space in northwest
Houston, Texas
The HFF team worked on behalf of the borrower, Megacenter
Willowbrook LLC, to place the three-year, floating-rate loan with Icon
Bank. Loan proceeds will be used to fund construction and the conversion
of the property into Megacenter’s fifth redevelopment project in the U.S.
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| Michael Johnson |
The
project, which broke ground earlier this year, has an expected final completion
date of November 2019.
Situated on 24 acres at 7075 FM 1960 about 23 miles northwest of downtown Houston, the property is across the street from Willowbrook Mall, a 1.45 million-square-foot regional mall with more than 19 million annual shoppers, an in an affluent area of Houston with 103,630 residents earning an average household income of $89,102 within a three-mile radius.
Situated on 24 acres at 7075 FM 1960 about 23 miles northwest of downtown Houston, the property is across the street from Willowbrook Mall, a 1.45 million-square-foot regional mall with more than 19 million annual shoppers, an in an affluent area of Houston with 103,630 residents earning an average household income of $89,102 within a three-mile radius.
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| Stuart Hepler |
“The Megacenter partners have proven to be market leaders in
the adaptive reuse space and are poised for great success at Megacenter
Willowbrook with an innovative mixed-use strategy that plays to the strong
demographics in the area and creatively reconfigures the existing Walmart
structure into a diverse and resilient income stream,” Johnson said.
For more information, please contact:
KIMBERLY STEELE
HFF Digital Content/Public Relations Specialist
(713) 852-3420
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