Shopping Center McAlister/Xfinity – Humble, TX

9477 FM 1960
Humble, TX
Sold: $6,924,444
Closing Date: 1/26/2017
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Year Built: 2015
Lot Size: 1.16 Acres
Property Type: Commercial
Property Status: Sold
Description:

HIGHLIGHTS

100% LEASED SHOPPING CENTER WITH SCHEDULED RENT INCREASES

  • 100% leased to strong national and regional tenants
  • Scheduled rent increases provide a hedge against inflation
  • Multi-tenant shopping center offers investment diversification

EXCELLENT LOCATION ALONG FM 1960 IN DENSE RETAIL CORRIDOR

  • Hard corner location with excellent access and visibility along FM 1960 to over 41,800 vehicles per day
  • Outparcel to newly constructed Kroger grocery store and directly across from the Townsen Boulevard Wal-Mart Supercenter
  • Large retail trade area with a massive concentration of national tenants
  • Easy access to Interstate 69 with average traffic counts of 133,000 AADT

INFILL LOCATION NEAR DEERBOOK MALL

  • 2 million SF mall anchored by Macy’s, Dillard’s, Sears, JCPenney, and a two-level Forever 21
  • Only mall in suburban Northeast Houston
  • Dick’s Sporting Goods will finish construction of a new, two-story, 80,000 SF store across from Forever 21 on the mall’s last remaining anchor pad in 2016

 LOCATION

The subject property is strategically situated within a dense retail corridor at the northeast corner of FM 1960 and Towsen Boulevard less two miles west of downtown Humble. Convenient access to Interstate 69, which experiences an annual average daily traffic count of 133,000 vehicles, is less than a mile east. The property has excellent visibility and access, with frontage along the heavily trafficked FM 1960 arterial, which has an annual average daily traffic count of 41,800 vehicles in front of the site. The site is outparcel to nationally recognized grocer, Kroger, and is surrounded by national retailers such as Sam’s Club, Wal-Mart, Burlington Coat Factory, and Olive Garden, amongst many others.

East of the subject property, near the entrance to Interstate 69, is Deerbrook Mall, a 1.2 million square foot super-regional mall anchored by Macy’s, Dillard’s, Forever 21, JCPenney, and Sears. An 80,000 square foot Dick’s Sporting Goods is poised to join the mall’s lineup sometime in 2016. Deerbrook Mall is the only mall in suburban Northeast Houston. Less than one mile southeast of the property is Memorial Herman Northeast Hospital, which is a part of Memorial Hermann Health System, the largest not-for-profit health system in southeast Texas. Additionally, about a mile and a half west of the property is the George Bush Intercontinental Airport, an international airport which serves the Greater Houston metropolitan area. It is Texas’s second largest air facility and the 28th busiest airport in the world in terms of passenger traffic and 12th busiest for total passengers in North America.