JLL Capital Markets has closed the sale of Willowchase Center, a 231,126-square-foot, Fiesta-anchored retail center in northwest Houston, Texas.
JLL marketed the property on behalf of the seller, Fidelis. Wu Properties acquired the asset.
Willowchase Center is anchored by market-leading Fiesta, a popular Hispanic supermarket chain headquartered in Houston, and the Willowchase Fiesta is the eighth most trafficked Fiesta out of the entire chain of 60 stores in Texas. The 97.22% leased center is also home to a diverse tenant lineup that includes dd’s Discounts, Jo Ann Fabrics and Crafts, Goodwill, Northern Tool and Equipment, Mattress Firm, Family Dollar, America’s Best, Jamboree Dentistry and Metro PCS. Additionally, a non-owned Rooms to Go shadow-anchors the property.
Situated on 19.53 acres at 12900-12974 Willowchase Drive, Willowchase Center is in a highly visible position seen by approximately 200,000 vehicles per day along SH 249. The center is within a super-regional northwest Houston trade area that includes 90,855 residents within a three-mile radius and a large and growing Hispanic population.
The JLL Retail Capital Markets team representing the seller was led by Senior Managing Directors Ryan West and Chris Gerard, Director John Indelli and Analysts Katherine Miller, Bailey Black and Grant Rexrode.
“Demand for retail assets throughout Texas is growing steadily, which highlights the conviction and strong fundamentals in the retail sector,” Indelli said. “We’re seeing an abundance of capital chasing retail deals, and there simply isn’t enough product to fulfill investor’s appetite.