At Home - Cypress, TX

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee-simple interest in an 86,013 square foot freestanding, single-tenant At Home retail property located at 24340 Northwest Freeway, Cypress, TX (“Property” or “Asset”). Headquarter in Plano, TX, At Home is a unique home décor concept that offers up to 45,000 home décor items for every household room. The Property is grocery shadow anchored by H-E-B, America’s #1 grocer.

The Asset is 100% leased to At Home Stores LLC (“At Home” or “Tenant”) with 10.8 years of remaining primary lease term, annual rent increases, and four, five-year renewal options. Initially constructed as a build-to-suit for the Tenant in 2019, the Tenant has a proven commitment to the site by signing a 15-year, absolute triple net lease.

The Property has direct frontage to the Northwest Freeway, a major Houston thoroughfare with high traffic counts of 122,000+ VPD and over 261,000 residents within a five-mile radius. This retail submarket preforms exceptionally well with 5.0% vacancy and more than 122,000 square feet of positive net absorption over the last twelve months.

Immediately adjacent to the property are two developments; Cypress Marketplace, a retail strip center with an open-air courtyard concept, and the Houston Methodist Cypress Hospital Campus. The Campus is an 800,000+ SF, 106-acre development slated to open in 2025 with over 500+ beds and staff members.

This rare opportunity allows investors the ability to acquire an established At Home retail asset in the Company’s #1 target region for strategic growth. The investment is further anchored by a national operator as guarantor and with inflation-hedging annual rental increases.