Steeplechase Center

10705-10931 Jones Rd, Houston, TX, 77065-4215, US

Executive Summary

Gallery

Asset description

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, 99 Cents Only, and Melrose. The 82% 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.

Attributes

Building area Net

195,572 sf

Occupancy

82.00%

Year built

1982

Land area Net

19.50 acres (849,420 sf)

Investment highlights

Currently 82% leased, purchasers will have the opportunity to increase NOI via lease-up
Stabilized cash flow with potential to add value via lease-up and marking rents to market.
Loyal tenant base with an average tenure of 8.3 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, Melrose, 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 113,979 residents within a 3-mile radius and affluent demographics with an average household income of $84,264 within a 3-mile radius.