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| Gianna New |
HOUSTON, TX – JLL Capital Markets announced the successful sale of Shops at Cross Creek, a fully leased 24,188-square-foot retail center located in Fulshear, Texas. The price was not disclosed.
JLL worked on behalf of the
seller, Rycore Capital LP. The buyer was Phillips Edison & Company.
JLL Capital Market’s Investment
and Sales Advisory team representing the seller was led by Senior Managing
Director Ryan West, Senior Director John Indelli and Analyst Gianna
New.
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| Ryan West |
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| Shops at Cross Creek, strategically located at 6630 FM-1463, Fulshear, TX |
The center benefits from its position on FM-1463, a key north-south corridor connecting I-10 to FM-1093, in an area experiencing rapid residential growth.
Fulshear, located within the
dynamic Katy submarket of West Houston, has undergone rapid expansion in recent
years, establishing itself as one of the Houston metropolitan area's fastest
developing regions.
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| John Indelli |
The area ranks #1 in annual new home starts in the Houston region, with 6,537 starts in 2023 - an 11.2% increase from the previous year. This rapid expansion is driven by the development of numerous master-planned communities, attracting affluent residents with average household incomes of $183,560 within a three-mile radius.
Shops at Cross Creek, a fully
leased retail center built in 2015, boasts a diverse mix of both local
favorites and nationally recognized tenants. The property is anchored by Yen
Fulshear, Rightway Dental, Marvelous Clinic, Firehouse Subs and Avis Budget
Car, creating a well-rounded tenant roster that caters to various customer
needs.
CONTACT:
Grace Lewis
PR, Capital Markets
2401 Cedar Springs Rd.
Dallas, Texas 75201
M +1 903 520 3478
JLL.com
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