Fiesta-anchored retail center in northwest Houston sells

Katherine Miller

 

HOUSTON, TX – JLL Capital Markets has closed the sale of Willowchase Center, a 231,126-square-foot, Fiesta-anchored retail center in northwest Houston, Texas.

The Willowchase Fiesta is the eighth most trafficked Fiesta out of the entire chain of 60 stores in Texas. The 97.22-percent-leased, best-in-class center is also home to a diverse tenant lineup.

The stores include dd’s Discounts, Jo Ann Fabrics and Crafts, Goodwill, Northern Tool and Equipment, Mattress Firm, Family Dollar, America’s Best, Jamboree Dentistry and Metro PCS. Additionally, a non-owned Rooms to Go shadow anchors the property.

 JLL marketed the property on behalf of the seller, Fidelis. Wu Properties acquired the asset.

Ryan West 

Willowchase Center is anchored by market-leading Fiesta, a popular Hispanic supermarket chain headquartered in Houston.

       The Willowchase Fiesta is the eighth most trafficked Fiesta out of the entire chain of 60 stores in Texas.

Th

Situated on 19.53 acres at 12900-12974 Willowchase Dr., Willowchase Center is in a highly visible position seen by approximately 200,000 vehicles per day along SH 249.

Chris Gerard

The center is within a super-regional northwest Houston trade area that includes 90,855 residents within a three-mile radius and a large and growing Hispanic population.

 The JLL Retail Capital Markets team representing the seller was led by Senior Managing Directors Ryan West and Chris Gerard; Director John Indelli and Analysts Katherine Miller, Bailey Black and Grant Rexrode.

 “Demand for retail assets throughout Texas is growing steadily, which highlights the conviction and strong fundamentals in the retail sector,” Indelli said.

John Indelli 

“We’re seeing an abundance of capital chasing retail deals, and there simply isn’t enough product to fulfill investor’s appetite.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. 

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.

Bailey Black 

 About Fidelis

Fidelis is an owner, operator and developer of retail, healthcare and residential commercial real estate projects. 

Fidelis 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. 

Fidelis’ mission is to maximize the value of the properties they serve for their tenants, customers, partners and communities. To learn more about Fidelis, please see their website at frpltd.com.

 

Grant Rexrode

About Wu Properties

Wu Properties is a fast-growing Houston centric acquirer and manager of retail assets. 

They are Houston based and have been in business for over 12 years. 

They are strategic buyers focusing primarily on the best grocery anchored retail shopping centers or power centers in the various submarkets they target. 

Contact:

 

 

Kimberly Steele
PR, Americas

JLL

M +1 232 244 9994

JLL.com

 

 

JLL invests initial $25,000 in new endowed fund for Florida A&M University commercial real estate students

 

 LaShawn Bates

 MIAMI, FL – As part of its ongoing efforts to increase diversity and inclusion in the commercial real estate industry, JLL announced that its Florida offices have created a permanently endowed fund with an initial investment of $25,000 to support the education of Florida A&M University (FAMU) students interested in pursuing careers in commercial real estate.

 

Located in Tallahassee, FAMU is the highest-ranked public historically black college and university (HBCU) in the country and the only public historically black university in Florida.

 

FAMU recently celebrated its 134^th anniversary and offers courses that provide a strong foundation for a commercial real estate career.

 

The endowment aims to make transaction roles more accessible to new, early-career women and underrepresented brokers deterred from the industry’s commission-oriented structure.

Christopher (Chris) Drew

“One way our industry can improve workforce diversity is to break down financial barriers preventing someone from pursuing a commercial real estate career,” said Senior Vice President of Market Operations in Florida

LaShawn Bates.

“Our goal is to provide FAMU student with greater early career support as they get started in the industry, and we hope our relationship with FAMU, and this fund will be a recruiting source for us.”      

 

“We want to cultivate a love of commercial real estate with the best and brightest minds in Florida, so establishing this financial relationship with FAMU will allow that talent to find us and vice versa,” added Senior Managing Director Chris Drew, Co-Head of JLL’s Miami Capital Markets office. 

 Larry Robinson

“As a result of the relationships that JLL formed with FAMU students during our work with Project Destined, we wanted a way to impact more students, and, when presented with the chance to expand our relationship with FAMU and its students, JLL was excited to do so.”

 

“Commercial real estate represents a significant area of untapped opportunity for our students. Their drive, creativity and passion to succeed are just some of the assets they will bring to this industry,” said FAMU President Larry Robinson, Ph.D. “We thank JLL for its inclusivity and generosity. This is a sound investment in the future of students.”  

 FAMU Cheer Leaders

“We are turning words into action through all of our overall initiatives and commitment to FAMU students specifically through this scholarship,” Bates said.

 “HBCUs, and FAMU in particular, have a long, rich history of graduating some of our country’s trail blazers. Our hope is that the fund helps inspire a new generation of diverse leaders in commercial real estate.”

 

For more news, videos and research resources on JLL, please visit our newsroom.

 

 

Contact:

 

 Kimberly Steele

PR, Americas

JLL

M +1 232 244 9994

JLL.com