Gianna New
HOUSTON, TX, Oct. 22, 2024 – JLL Capital Markets has arranged the sale of Katy Green, a 14,920-squre-foot shopping center in Houston, Texas. The price was not disclosed.
JLL represented Wile Interests,
Inc., the seller, in the transaction and secured a private investor as the
buyer.
Amanda G. Altman
JLL Capital Market’s Investment and Sales Advisory team was led by Senior Managing Director Ryan West, Senior Director John Indelli and Analyst Gianna New.
“With the recent interest rate cut by the Federal Reserve we’re entering a more robust liquidity cycle which should create additional demand,” said Indelli. “We have a meaningful imbalance with buyer demand outpacing supply of available shopping centers for sale.”
Ryan West
Strategically positioned at
19227-19235 Katy Fwy. at Greenhouse Road, Katy Green Shopping Center benefits
from its hard corner location adjacent to I-10, which experiences an average
daily traffic of over 200,000 vehicles.
John Indelli
“This center will stand as a much-needed beacon of hope and healing for women, children, and families in our area,” said Amanda G. Altman, CEO of Kristi House. “This partnership marks a significant step toward achieving our vision of a permanent, safe sanctuary. By co-owning this space, we are investing in the future of our community and ensuring lasting stability for the life-changing services we provide.”
Moreover, the rapidly growing population base surrounding the center
provides a consistent flow of local customers, ensuring steady traffic
throughout the day and evening. The presence of well-known, national tenants
such as Starbucks and Potbelly further enhances the retail complex’s appeal.
The Sanctuary
The 31,514-square-foot property consists of two connected buildings with office and classroom space, along with two parking lots on a two-acre site. The signature building is a 6,500-square-foot church building, “The Sanctuary,” designated as a historic landmark in the City of Homestead.
Houston's retail market is
robust, driven by a diverse and expanding population that fuels demand for
retail spaces. In this thriving West Houston/Katy Corridor sub-market, with a
96% retail occupancy rate, limited new development helps maintain strong fundamentals
and high tenant retention.
Two parking lots on a two-acre site. The signature building is a 6,500-square-foot church building, “The Sanctuary,” designated as a historic landmark in the City of Homestead. |
The Katy submarket boasts strong
economic fundamentals, with an average household income of $127,246 within a
one-mile radius of the property and a thriving job market featuring over
120,000 jobs across diverse industries as well as over 13,000 companies.
Constructed in 2013, Katy Green is a part of the 16-acre mixed-use
retail and office campus, the only such mixed-use campus in the Energy
Corridor/Katy sub-market. This well-established center boasts an impressive 100%
occupancy rate, reflecting its prime location and diverse tenant mix.
CONTACT:
Angelic Bringas
Account Executive
abringas@boardroompr.com
C 786-202-5773
O 954-370-8999
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