H-E-B-anchored power center near Houston sells to Fidelis Realty Partners

 

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 97.7-percent-leased property is also home to a diverse lineup of national and local tenants, including Academy, Ashley HomeStore, Burlington, Dynamic Fitness, Hobby Lobby, Subway, Club Pilates, Men’s Wearhouse, Pure Barre and Salata.

 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 power center serves an affluent trade area that includes 79,126 residents with in a three-mile radius with an average income exceeding $138,000.

 

 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

The JLL Capital Markets Debt Advisory team arranging the post-acquisition financing for Fidelis Realty Partners LLC includes Senior Managing Director Colby Mueck, Senior Director James Brolan and Analyst Stuart Hepler.

 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's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.

 

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

EDENS knows that when people come together, they feel a part of something bigger than themselves and prosperity follows— economically, socially, culturally and soulfully. EDENS has offices in key markets including Washington, D.C., Boston, Dallas, Columbia, Atlanta, Miami, Charlotte, Houston and Denver.

 

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

 frpltd.com.

 jll.com.

 

Julian E. (Jay) Whitehurst to Retire as CEO of National Retail Properties Inc.; Stephen A. Horn Jr. Named as Successor

Julian E. ("Jay") Whitehurst

 

ORLANDO, FL  /PRNewswire/ -- National Retail Properties, Inc. (NYSE: NNN) announced that Julian E. ("Jay") Whitehurst, President and Chief Executive Officer ("CEO"), will retire and step down as a member of the Board of Directors effective April 28, 2022.  

 Stephen A. ("Steve") Horn, Jr., currently Executive Vice President and Chief Operating Officer, will assume the role of President and CEO as of April 29, 2022.

 

 Stephen A. ("Steve") Horn, Jr

Whitehurst has served as a director of the company since February 2017, as Chief Executive Officer of the company since April 2017, and as President of the company since May 2006.

  Horn joined the company in July 2003, was appointed Executive Vice President and Chief Acquisition Officer in January 2014 and has served as Chief Operating Officer since August 2020. 

 

Steven D. (Steve) Cosler

Steve Cosler, Chairman of the Board, said, "Jay has been an integral part of the growth of National Retail Properties over the last 30 years while serving in a variety of roles. We are grateful for his steady hand as CEO over the last five years."

 National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases.  As of September 30, 2021, the company owned 3,195 properties in 48 states with a gross leasable area of approximately 33.0 million square feet and with a weighted average remaining lease term of 10.6 years.

 CONTACT: 

 www.nnnreit.com.

 

Jon Zucker Named President of CASPR Group

  

Jon Zucker

DALLAS, TX — Environmental health technology company CASPR Group is pleased to announce Jon Zucker as its President. Zucker joined CASPR in late 2021.

Zucker’s goal is to guide CASPR Group into a scalable, sustainable company as it manages increased demand for its proprietary Natural Catalytic Conversion (NCC™) technology. 

The company’s solutions provide healthier indoor air and surface environments across industries including healthcare, education, transportation, and commercial real estate.

 “Throughout my time interacting with Jon through the YPO organization, I’ve seen how his vision is always ahead of the curve and five steps beyond where the market is currently,” said CTO and CASPR inventor Dr. Christophe Suchy. 

Dr. Christophe Suchy

“CASPR’s next stage of growth potential becomes exponential when we bring Jon’s experience to the company leadership team.”

 

Prior to joining CASPR, Zucker founded and ran the Dialectic Group, an independent, full-service digital agency, delivering market-leading, digital transformation for high-profile brands such as Caesars Corp., MGM and Lionsgate.

 Zucker has also held roles in the motion picture and television industry, both as a producer and talent agent at companies such as United Talent Agency and Moresco Productions (Crash, Million Dollar Baby). He also managed a private equity fund for independent films.

 

CONTACT: 

 

Sara Burgos, 

sburgos@sunwestpr.com

469-221-1820 (o) 786-282-8549 (c)

 www.casprtech.com.

Donohoe Hospitality Services Names Leticia Proctor Executive Vice President – Sales, Marketing and Revenue Management

 

Leticia Proctor 

 BETHESDA, MD– Thomas Penny, III, President of Donohoe Hospitality Services, a division of Donohoe, announced that Leticia Proctor has been promoted to executive vice president – sales, marketing & revenue management. 

  In her new role, she will oversee marketing, direct sales, catering, revenue management and e-distribution for the company and its hotel portfolio.

 “Leticia has been instrumental in our growth since she joined us in 2019, assisting with Donohoe’s messaging and outreach efforts with phenomenal success,” Penny said. 

  “She truly is an inspiration to our team, constantly pushing our members to do and be their best.  Her ability to communicate the Donohoe mission to the industry has helped us achieve the position we have today.”

 

 Thomas Penny, III

A 25-year hospitality veteran, Proctor has held multiple, increasingly important roles at some of the industry’s leading organizations.  Most recently, she was senior vice president – sales, revenue management and digital strategies with PM Hotel Group.

 She received her Bachelor of Science Degree in Legal Studies with a minor in Business Law and Public Policy from the University of Maryland and her Master of Professional Studies Degree in Hospitality Management at Georgetown University.

 CONTACT: 

 

Chris Daly

President

DG Public Relations

(703) 864-5553

chris@dalygray.com

www.dalygray.com

www.donohoe.com/hospitality.