Retail

Shoppes at Kingsgate

1113-1387 Kingwood Dr, Humble, TX, 77339-3033, US

Executive Summarydownload
Shoppes at Kingsgate_Property for Sale

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Shoppes at Kingsgate 2_Property for Sale

Asset description

JLL is pleased to offer the opportunity to acquire Shoppes at Kingsgate (the “Property”), a grocery anchored shopping center in the densely populated and affluent Kingwood, TX. The Property is home to a well balanced mix of national and local retailers including ALDI, Dollar Tree, Painted Tree and Tuesday Morning. The 91.9% leased property ideally sits along Kingwood Drive at the main entrance to the Kingwood Master Planned Community with excellent visibility to over 41,000 vehicles per day.

Attributes

Building area gross
156,343 sf
Occupancy
92.00%
Year built
1980
Land area Gross
14.78 acres (643,817 sf)

Investment highlights

  • Currently 91.9% leased, purchasers will have the opportunity to increase NOI via lease-up


  • Anchored by national tenants including Dollar Tree, Tuesday Morning and Painted Tree.


  • Grocery anchored by rapidly expanding global grocery brand ALDI which is on track to become the third largest grocer in the U.S. by store count in 2022.


  • Located at the gateway to Kingwood with excellent visibility to over 41,000 vehicles per day along Kingwood Drive, the most heavily trafficked thoroughfare in Kingwood.


  • Stable in-place cash flow with 7.2 years of remaining WALT.


  • Surrounded by the thriving Kingwood community with a 45,975 residents within a 3-mile radius and affluent demographics.


  • The center has captured over 65,000 SF of new leases since the beginning of 2021 Situated in a heavily underserved retail market.


  • Situated in a heavily underserved retail market.
Shoppes at Kingsgate 4_Property for Sale
Shoppes at Kingsgate 4_Property for Sale

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Last updated
Aug 11, 2022