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JLL is pleased to offer the opportunity to acquire a predominantly ground leased interest in the Crossing at Katy Fulshear outparcel portfolio (the “Properties” or “Offering”) located in the affluent cities of Katy and Richmond, Texas. The portfolio consists of nine industry leading net lease tenants with a total net operating income of approximately $1.06 million and an average remaining lease term of 14.6 years. The properties are strategically located on outparcels to Walmart Supercenter along FM 1093 and FM 1463, a highly trafficked retail thoroughfare experiencing combined traffic counts or more than 55,100 VPD. The Portfolio features outstanding surrounding demographics in the Houston MSA with over 142,400 residents with average annual household income of more than $175,000 within a five-mile radius. This Portfolio possesses excellent real estate fundamentals and presents the opportunity to acquire a long-term investment leased to industry leading net lease tenants in an affluent and high growth suburb of Houston.
INDUSTRY LEADING + HIGH GROWTH TENANCY
•Features nine industry leading and high growth tenants including Chick-fil-A, Taco Bell, Whataburger, Raising Cane’s, Panda Express, Freddy’s, Kentucky Fried Chicken, Express Oil Change & Tire Engineers and Spring Creek Barbeque.
OUTPARCEL TO WALMART SUPERCENTER
•Anchored by Walmart Supercenter in the expansive Crossing at Katy Fulshear Shopping Center with leading national retailers including PetSmart, Ross Dress for Less, and T.J. Maxx
•Dense and highly affluent demographic base with over 142,400 residents and average household income of more than $175,000 within a 5-mile radius
•Adjacency to FM 1093 & 1463 boasting combined traffic counts over 55,100 VPD
RAPIDLY EXPANSIVE + DYNAMIC HOUSTON MARKET
•Booming Texas popularity primarily due to business-friendly and zero income tax environment
•Accelerating Houston MSA population growth adding nearly 700,000 residents in the next five years
•Nicknamed the Energy Capital of the World, Houston has become a corporate hub with the second-most Fortune 500 headquarters of any US municipality
OPTIMAL LONG-TERM NET LEASE STRUCTURE WITH ZERO LANDLORD RESPONSIBILITIES
•The Portfolio operates on absolute triple-net leases with zero landlord responsibilities generating nearly $1.06 million in Year-1 rental revenue
•Features all construction newer than 2018 leased to corporate-backed and established franchisee operators containing over 14.6 years of average primary lease term inclusive of contractual rental escalations