Neighborhood strip center finds new owner in Houston suburb, Katy

HOUSTON, Oct. 22, 2024 –  JLL Capital Markets announced today that it has arranged the sale of Katy Green, a 14,920-squre-foot shopping center in Houston, Texas.

JLL represented Wile Interests, Inc., the seller, in the transaction and secured a private investor as the buyer.

Strategically positioned at 19227-19235 Katy Fwy. at Greenhouse Road, Katy Green Shopping Center benefits from its hard corner location adjacent to I-10, which experiences an average daily traffic of over 200,000 vehicles. Moreover, the rapidly growing population base surrounding the center provides a consistent flow of local customers, ensuring steady traffic throughout the day and evening. The presence of well-known, national tenants such as Starbucks and Potbelly further enhances the retail complex’s appeal.

Houston's retail market is robust, driven by a diverse and expanding population that fuels demand for retail spaces. In this thriving West Houston/Katy Corridor sub-market, with a 96% retail occupancy rate, limited new development helps maintain strong fundamentals and high tenant retention.

The Katy submarket boasts strong economic fundamentals, with an average household income of $127,246 within a one-mile radius of the property and a thriving job market featuring over 120,000 jobs across diverse industries as well as over 13,000 companies. Constructed in 2013, Katy Green is a part of the 16-acre mixed-use retail and office campus, the only such mixed-use campus in the Energy Corridor/Katy sub-market. This well-established center boasts an impressive 100% occupancy rate, reflecting its prime location and diverse tenant mix.

Katy Green attracts versatile clientele, comprising both local residents and daytime office workers who frequent the area. Katy Green boasts an ideal location in the heart of the Energy Corridor and is surrounded by high-growth residential communities. Residents are not only attracted by the top school districts in the region, but they also enjoy a superior quality of life with numerous parks, museums, golf courses and housing at a variety of types and price points.

JLL Capital Market’s Investment and Sales Advisory team was led by Senior Managing Director Ryan West, Senior Director John Indelli and Analyst Gianna New.

“With the recent interest rate cut by the Federal Reserve we’re entering a more robust liquidity cycle which should create additional demand,” said Indelli. “We have a meaningful imbalance with buyer demand outpacing supply of available shopping centers for sale.”

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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