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| Wendy Vandeventer |
HOUSTON, TX – JLL Capital Markets has closed the sale of Shadow Creek Ranch, a 613,468-square-foot, H-E-B-anchored power center within the master-placed Shadow Ranch community in the Houston suburb of Pearland, Texas.
 |
| Katherine Miller |
JLL marketed the property on behalf of the seller, EDENS. Fidelis Realty Partners LLC acquired the asset. Additionally, the new owner has engaged JLL to source post-acquisition financing.
Completed between 2007 and 2008, Shadow Creek
Ranch is anchored by H-E-B, ranked the No. 2 grocer in America for 2021 by the
dunnhumby Retailer Preference Index.
 |
| Chris Gerard |
The sale includes 11 free-standing pad sites leased to popular tenants such as Taco Cabana, Frost Bank and Longhorn Steakhouse.
Shadow Creek Ranch is at 2805 Business Center
Dr. in Pearland, a growing southern Houston suburb known for a recent influx of
major corporate relocations.
The retail center is within the 3,500-acre
premier Shadow Creek Ranch master-planned, mixed-use, live-work-play
development that features greenbelts, lakes and the majority of Pearland’s
principal employers and retail space.
 |
| Ryan West |
The
population has ballooned nearly 57 percent since 2010, and the current number
of households is anticipated to grow 11.2 percent over the next five years.
The JLL Retail Capital Markets team representing
the seller was led by Senior Managing Directors Ryan West and Chris
Gerard, Senior Managing Director and Co-Head of U.S. Retail Capital
Markets Barry Brown, Senior Director Wendy Vandeventer and Analyst
and Katherine Miller.
“The sale of Shadow Creek Ranch reflects the
state of the retail capital markets in Texas,” West said. “We had a deep pool
of buyers pursuing a large-scale retail asset that was anchored by a
high-octane H-E-B and big box retailers that emerged from a pandemic stronger
than before.”
 |
| Colby Mueck |
According to JLL Research’s recently released United States Retail Outlook for the third quarter of 2021, the retail recovery is in full swing with demand returning to 2017 levels.
Big-box retailers like the ones that call Shadow
Creek Ranch home are posting solid performance and increasing the stability of
power centers.
JLL Capital Markets is a full-service global
provider of capital solutions for real estate investors and occupiers.
 |
| James Brolan |
The firm has more than 3,000 Capital Markets
specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources on
JLL, please visit our newsroom.
About EDENS
EDENS is a retail real estate owner, operator and developer of a nationally leading portfolio of 110 places. EDENS’ purpose is to enrich community through human engagement.
 |
| Stuart Hepler |
About Fidelis Realty Partners LLC
Fidelis is an owner, operator and developer of retail, healthcare and residential commercial real estate projects and has approximately 16 million square feet of property located in six states. Fidelis is headquartered in Houston with regional offices in Dallas, Texas, and Santa Fe, New Mexico.
CONTACT:
Kimberly Steele
JLL
Manager
Public
Relations
Phone: +1 713 852 3420
Email: Kimberly.Steele@am.jll.com
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