JLL Capital Markets announced today that it has arranged acquisition financing for Harper’s Trace Center, a fully leased, 12,928-square-foot retail strip center in the Houston-area community of Conroe.

JLL worked on behalf of the borrower, Austin-based Door Capital Partners, to place the five-year, fixed-rate non-recourse acquisition loan with Woodforest National Bank.

Completed in 2017, Harper’s Trace Village is triple net leased to a diverse, synergistic mix of tenants, including Subway, SuperCuts, Papa John’s, Greenpath Pharmacy, 242 Animal Hospital and Friendly Dentists, along with a popular wireless provider. An adjacent, non-owned Starbucks and O’Reilly Auto Parts help drive traffic to the property, and a Chick-fil-A will be opening next door.

Harper’s Trace Village is positioned on 1.27 acres at 10161 Highway 242 in Conroe, a northern suburb of the Houston MSA. The property is within a popular retail corridor and surrounded by residential neighborhoods that house nearly 85,000 residents earning an average annual household income of $108,968. Additionally, the property is across the street from a new 102,000-square-foot H-E-B grocery store.

According to JLL Research’s United States Retail Outlook Q1 2022 report, smaller-sized retailers are currently driving demand for neighborhood and strip centers. Vacancy compressed 110 basis points year-over-year ending the first quarter of 2022 to 6.0%. Rents rose 1.4% during the quarter and 4.6% over the previous year.

The JLL Capital Markets Debt and Advisory team representing the borrower was led by Senior Director CW Sheehan, Managing Director Michael Johnson and Analysts Hunt Wood and Matt Ctvrtlik.

JLL Capital Markets announced today that it has arranged acquisition financing for Harper’s Trace Center, a fully leased, 12,928-square-foot retail strip center in the Houston-area community of Conroe.

JLL worked on behalf of the borrower, Austin-based Door Capital Partners, to place the five-year, fixed-rate non-recourse acquisition loan with Woodforest National Bank.

Completed in 2017, Harper’s Trace Village is triple net leased to a diverse, synergistic mix of tenants, including Subway, SuperCuts, Papa John’s, Greenpath Pharmacy, 242 Animal Hospital and Friendly Dentists, along with a popular wireless provider. An adjacent, non-owned Starbucks and O’Reilly Auto Parts help drive traffic to the property, and a Chick-fil-A will be opening next door.

Harper’s Trace Village is positioned on 1.27 acres at 10161 Highway 242 in Conroe, a northern suburb of the Houston MSA. The property is within a popular retail corridor and surrounded by residential neighborhoods that house nearly 85,000 residents earning an average annual household income of $108,968. Additionally, the property is across the street from a new 102,000-square-foot H-E-B grocery store.

According to JLL Research’s United States Retail Outlook Q1 2022 report, smaller-sized retailers are currently driving demand for neighborhood and strip centers. Vacancy compressed 110 basis points year-over-year ending the first quarter of 2022 to 6.0%. Rents rose 1.4% during the quarter and 4.6% over the previous year.

The JLL Capital Markets Debt and Advisory team representing the borrower was led by Senior Director CW Sheehan, Managing Director Michael Johnson and Analysts Hunt Wood and Matt Ctvrtlik.

Houston, June 16, 2022 – Colliers is pleased to announce the sale of ±22 acres located at 10594 League Line Road in Conroe, Texas. The buyer, 10594 League Line Investment LLC, was represented by Tom Dosch, David Marhsall, George Notte and Tim Dosch of Dosch Marshall Real Estate. Michelle Soderberg and Tom Condon, Jr. of Colliers represented the sellers, Mark and Janet Blott, and Henry and Betty Blott, in the transaction.

The ±22 acre development opportunity is adjacent to The Woodlands Hills by Howard Hughes, a new ±2,500 acre master planned community development. The property is situated within the Willis ISD school district with utilities available through City of Conroe. The buyer indicated they acquired the property for investment. https://localusteama.colliers.com

Riceland, a new 1,500-acre master-planned community located in Chambers County just outside of Houston, will break ground this month. Trez Capital provided financing in the amount of $25 million to family-owned developer Michael S. McGrath of McGrath Real Estate Partners, for phase one of this master plan community. The Riceland development plans to deliver 4,500 homes upon completion.

“We’re pleased to provide financing for Riceland, a new master-planned destination that will attract families of all stages of life due to its natural setting, heritage, extensive amenities and its location just outside Houston,” said Trez Capital Vice President John Sullivan. “The fact that Mont Belvieu is only 35 minutes away from Downtown Houston and is along the recently opened Grand Parkway/SH99 eastern sections makes it easily accessible to the northern Houston metro area and a desirable place to live. Houston has grown exponentially the last couple of years. Over the past 12 months, the city has added 118,000 jobs and is one of the strongest markets in the U.S. for new housing and job growth.”

Mont Belvieu is in one of the fastest growing counties in the state. It features small-town living, a family-centric community and the city is surrounded by nature. The city is host to Barbers Hills Independent School District (ISD) which has an A rating from the Texas Education Agency and received a score of eight from GreatSchools. McGrath Real Estate Partners is working closely with the city of Mont Belvieu to ensure that the development complements and enhances the small-town feel that residents already enjoy.

Riceland will feature resort-style pools, a fully stocked 10-acre lake with fish camp, and multiple parks along with 30 miles of hiking and biking trails. Designed as a highly walkable neighborhood, Riceland will integrate seamlessly into the existing Mont Belvieu community. The centerpiece of the community is a town center that will also act as a downtown for Mont Belvieu.

Riceland draws on the history of the land and is built on land grants made in the early 1800s. The land has been lived on by the same family for almost two centuries. The family’s ancestors received two land grants from Mexican President Antonio Lopez de Santa Anna in 1830 when Texas was still a part of Mexico.