CenterSquare Investment Management acquired the Shops at Cinco Ranch in Katy, Texas.

Shops at Cinco Ranch is a 27,500-square-foot Essential Service Retail property in the affluent Cinco Ranch neighborhood of Katy in the Houston MSA, where average incomes exceed $155,000.

The Property is a 96% leased neighborhood center that is home to a wide array of local, service-oriented tenants catering to the surrounding 34,000 rooftops in a 3-mile radius.

Cinco Ranch has seen its population double since 2010 and is consistently ranked as a top-5 neighborhood to live in the nation. This opportunity marks CenterSquare’s 5th acquisition in Houston.