Fiesta-anchored retail center in northwest Houston sells
JLL Capital Markets closed the sale of Willowchase Center with a market-leading Hispanic grocery anchor
HOUSTON, March 9, 2022 – JLL Capital Markets announced today that it 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-percent-leased, best-in-class 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 Dr., 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.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 98,000 as of December 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Fidelis
Fidelis is an owner, operator and developer of retail, healthcare and residential commercial real estate projects. Fidelis has approximately 16 million square feet of property located in six states. Fidelis is headquartered in Houston with regional offices in Dallas, Texas, and Santa Fe, New Mexico. Fidelis’ mission is to maximize the value of the properties they serve for their tenants, customers, partners and communities. To learn more about Fidelis, please see their website at frpltd.com.
About Wu Properties
Wu Properties is a fast-growing Houston centric acquirer and manager of retail assets. They are Houston based and have been in business for over 12 years. They are strategic buyers focusing primarily on the best grocery anchored retail shopping centers or power centers in the various submarkets they target. They leverage their regional market knowledge and retail expertise to enhance investors' returns. While primarily a value-add purchaser, they have done several ground-up developments and seek opportunities wherever possible. They currently oversee 19 properties owned and managed containing over two million square feet of retail space.