Shoppes at Kingsgate
1113-1387 Kingwood Dr, Kingwood, TX, 77339-3033, US
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 95.2% 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.
- Currently 95.2% leased, purchasers will have the opportunity to increase NOI via lease-up
- 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
- Stable in-place cash flow with 6.6 years of remaining WALT
- The center has captured over 65,000 SF of new leases since the beginning of 2021
- In-Place Rents are an estimated 24.9% below today’s market rates
- 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
- Surrounded by the thriving Kingwood community with a 45,975 residents within a 3-mile radius and affluent demographics.
- Situated in a heavily underserved retail market.