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JLL is pleased to offer the opportunity to acquire Champions Village Shopping Center, an institutionally owned and operated grocery anchored power center strategically positioned along the FM 1960 corridor in Houston, Texas. Located in the center of the Champions residential and commercial submarket, the property provides excellent access and visibility to a population of 106,000 residents within a 3-mile radius. Anchored by Randalls, a subsidiary of Albertsons which is the 3rd largest grocery chain in the U.S., the property is the 4th most trafficked shopping center within a 5-mile radius with 2.3 million annual visitors in the last 12 months (as of October 2021).
The center is occupied by a dedicated roster of tenants who collectively have a weighted average tenure of 21 years. Today, the property is 65.7% leased which provides buyers a significant value-add opportunity to increase property NOI via a creative combination of leasing and potential redevelopment.
Totaling +/-31.9 acres, the property represents one of the largest and best located urban infill sites in Northwest Houston with existing cash flow in-place.
- Significant Redevelopment Opportunity
- Generational Opportunity to Negotiate a Premier Grocery Lease with No Options
- Over 300,000 Residents Within a 5-Mile Radius
- Randalls grocery anchor attracts 550K+ visitors per year
- 2.3 Million Shopping Center Visits in the 12 Months Trailing October 2021
- 10-Year Average Submarket Occupancy of 93.8%