Regional power center in Houston, TX sells to local investor Wu Properties

 

Erin Lazarus 

 HOUSTON, TX – JLL Capital Markets has closed the sale of Market Square at Eldridge, a 262,556-square-foot regional power center anchored by a slate of best-in-class tenants in Houston, Texas.

JLL marketed the property on behalf of the seller, Walton Street Capital, L.L.C. Houston-based Wu Properties acquired the asset.

Megan Babovec

The JLL Retail Capital Markets team representing the seller was led by Senior Managing Directors Chris Gerard and Ryan West, Associate Erin Lazarus and Analyst Megan Babovec.

“Market Square at Eldridge will be a great addition to Wu Properties existing Houston retail portfolio,” West said. “It was a strategic opportunity for them given their current interests in the trade area.

 

"All personnel on both sides of this transaction should be commended on such a smooth and expedited transaction.”

Chris Gerard

According to Placer.Ai, Market Square at Eldridge center is in the top 5% of all U.S. shopping centers. The high-performing center is 98 percent leased to a robust mix of national tenants, including Burlington, Michaels, Party City, PetSmart, Dollar Tree, HomeGoods, Bath & Body Works, Ulta Beauty, Cato, Old Navy and Office Depot.

Ryan West

A Target and popular membership-only retail warehouse serve as shadow anchors.

 

Market Square at Eldridge is positioned on 32.52 acres at 2660 Eldridge Pkwy S. in a high-traffic infill Houston location at the intersection of Westheimer Road and Eldridge Parkway, which sees more than 99,000 vehicles per day.

 

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Contact: 

 

Kimberly Steele, JLL Sr. Manager, Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com