Mason Village shopping center in Houston, TX sold
JLL Capital Markets facilitated the sale of neighborhood center anchored by leading Hispanic supermarket chain
HOUSTON, Oct. 29, 2024 – JLL Capital Markets announced today the sale of Mason Village Shopping Center, a 96,486-square-foot shopping center located in premier Mason Rd retail corridor in West Houston, Texas.
JLL worked on behalf of the seller, DNA Partners, in the sale. Longpoint Realty Partners acquired the asset.
Mason Village Shopping Center is a top performing retail center in West Houston with direct access to I-10 and is the 2nd most visited essential retail center within a 15-mile radius according to Placer AI. The center is anchored by La Michoacana, one of Texas’ premier Hispanic grocers with over 200 stores statewide. Additionally, there is a dynamic mix of tenancy including national brands, Harbor Freight, Freebirds, Jiffy Lube and Jason’s Deli, and diverse local tenants.
Mason Village, strategically situated at intersection of Mason Road and I-10, is located in center of Houston’s population, featuring unmatched demographics. Mason Rd provides excellent access and visibility to the center with over 45,000 vehicles per day. The location offers convenient access directly to I-10 and is adjacent to grocers Fiesta and 99 Ranch.
Mason Village represents excellent value-add opportunity with in-place rents over 24% below market on average. With 14 of 27 current tenants expiring without fixed rate options, Mason Village is positioned to benefit from the robust rental fundamentals seen in Houston and across the nation. The national retail market is currently experiencing the lowest number of deliveries since 2017 and highest net absorption in the last six years.
The JLL Investment Sales and Advisory team was led by Senior Managing Director Ryan West, Senior Director John Indelli and Analyst Clay Anderson.
“Infill retail centers in Houston continue to attract outstanding investor demand,” Anderson said. “Mason Village represented the opportunity to acquire a well-located center with established tenancy, a secure revenue stream and substantial embedded value-add potential.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About DNA Partners
DNA Partners, founded in 2002, has established itself as a leader in commercial property management with a focus on creating lasting partnerships. The company specializes in developing and managing retail centers that cater to essential neighborhood needs, as well as strategically positioned office and industrial properties in diverse, business-friendly markets. By prioritizing destination tenants and everyday necessities in their retail locations, DNA Partners has built a resilient portfolio that withstands economic fluctuations while serving local communities effectively.
About Longpoint Realty Partners
Headquartered in Boston, MA, Longpoint is a vertically integrated private equity real estate firm with extensive experience in acquiring and operating infill logistics real estate in major U.S. markets. Longpoint chooses its investments and value-creation strategies based on an analytical process that incorporates key drivers impacting global supply chain restructuring, as well as consumer shopping patterns. Longpoint is minority owned and is registered as an investment adviser with the SEC. Founded in 2015, Longpoint has offices in Atlanta, Boston, Dallas, Los Angeles, Miami, New Jersey, and Washington DC.