Sunrise Lake at Broadway

9223 Broadway Street, Pearland, TX, 77584, US

Description

Jones Lang LaSalle Americas, Inc. (“JLL”) has been exclusively retained to offer the opportunity to acquire Sunrise Lake Center (the “Property”), a 88% leased, 74,612 square foot retail and office asset located in the Pearland submarket of Houston, Texas. The offering presents an exceptional value-add opportunity via 13% below market rents and tenants expiring without options. The asset includes a favorable opportunity to acquire a Class A, boutique office asset significantly below replacement costs. Located along Pearland’s most trafficked east/west roadway along Broadway Street, the Property is located among robust demographics with an expanding residential base.

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Attributes

Building area gross

74,612 sf

Occupancy

88.1%

Land area gross

0.94 acres

Year built

1982

Media

Investment Highlights

Value add opportunity via 13% below market rates and 37% of GLA expiring without options
Exceptional visibility and accessibility along Broadway St., Pearland’s major east/west thoroughfare
Exceptional opportunity to acquire a boutique office asset significantly below replacement costs
Robust retail fundamentals and demographics in the Pearland submarket ($134,924 average HH income)