JLL Capital Markets has closed the sale of Market Square at Eldridge, a 262,556-square-foot regional power center anchored by a slate of tenants in Houston.
JLL marketed the property on behalf of the seller, Walton Street Capital, L.L.C. Houston-based Wu Properties acquired the asset.
According to Placer.Ai, Market Square at Eldridge center is in the top 5% of all U.S. shopping centers. The high-performing center is 98 percent leased to a robust mix of national tenants, including Burlington, Michaels, Party City, PetSmart, Dollar Tree, HomeGoods, Bath & Body Works, Ulta Beauty, Cato, Old Navy and Office Depot. A Target and popular membership-only retail warehouse serve as shadow anchors.
Market Square at Eldridge is positioned on 32.52 acres at 2660 Eldridge Pkwy S. in a high-traffic infill Houston location at the intersection of Westheimer Road and Eldridge Parkway, which sees more than 99,000 vehicles per day. The property is near Houston’s Energy Corridor, a major employment center. Surrounded by residential and multi-housing development, more than 161,182 residents earning an average annual household income of $90,716 live within a three-mile radius.
The JLL Retail Capital Markets team representing the seller was led by Senior Managing Directors Chris Gerard and Ryan West, Associate Erin Lazarus and Analyst Megan Babovec.