|Call for Offers||2022-04-27|
JLL is pleased to offer the opportunity to acquire Steeplechase Shopping Center (the “Property”), a value-add power center located along the highly trafficked FM 1960 corridor in Northwest Houston. The Property is home to a well balanced mix of national and local retailers including Goodwill, Dollar Tree, Fallas Paredes, 99 Cents Only, and Melrose. The 93% leased property ideally sits along FM 1960 and Jones Rd, one of Houston’s most prominent retail corridors with excellent visibility to over 98,000 vehicles per day.
Currently 93% leased, purchasers will have the opportunity to increase NOI via lease-up
Stabilized property with consistent cash flow as 17/19 tenants having renewal options.
Loyal tenant base with an average tenure of 7.3 years
Strategically located between two major freeways in northwest Houston, Hwy 249 and US Hwy 290
Direct frontage along FM 1960, one of Houston’s most highly trafficked retail corridors and east/west thoroughfares
Anchored by high performing, national discount retailers including Goodwill, DD’s Discount, Fallas Paredes, Melose, and 99 Cent Only
Adjacent to the Cypress Fairbanks Medical Center and within a 2-mile radius of an HEB, Target, and Walmart Super Center
Premier Access & Visibility - Located at the lively intersection of FM 1960 and Jones Rd with excellent visibility to over 58,941 vehicles per day along FM 1960 and 36,974 vehicles
per day along Jones Rd.
Surrounded by the thriving community with a 113,979 residents within a 3-mile radius and affluent demographics with an average household income of $84,264 within a 3-mile radius.