Closed $5,250,000 Asking Price - All Retail Properties
The property consists of a 14,561 square foot building situated on 1.95 acres on The Woodlands Parkway near its major
intersection with F.M. 2978. The Woodlands Parkway is one of the area’s most important east to west traffic arteries uniting
The Woodlands to the Houston MSA via Interstate 45.
The center is directly across from a Walmart Supercenter across the street and is 100 percent stabilized with a mix of attractive
tenants, all with triple-net leases that reimburse for operating costs. The center also provides built-in upside, as 43 percent of
tenant’s current leases contain rent increases in their base-terms. Demographics in the immediate area of the property are
outstanding, with an average household income exceeding $111,000 within a one mile radius of the center.
The property is located within the “Village of Sterling Ridge”, one of nine villages that comprises The Woodlands Community.
Located on the west side of The Woodlands, Sterling Ridge is home to over 15,000 residents and hosts great shopping,
restaurants and many parks including Terramont Park.
The Woodlands is one of America’s largest and successful master planned communities operated by the The Howard Hughes
Corporation. Home to 100,000 residents and experiencing unparalleled growth, the development is the number two best selling
master-planned community in Texas and number four in the U.S. It is heralded for its towering trees, winding nature trails,
abundant outdoor recreation and excellent educational opportunities. Over the last four decades, the community has become a
thriving center for business, commerce and tourism.
- CAP Rate: 6.70%