News release

Houston grocery-anchored power center sells

JLL Capital Markets closed the sale of the Randalls-anchored Champions Village Shopping Center to First National Realty Partners

April 06, 2022

Kimberly Steele

Occupier PR
+1 713 852 3420

HOUSTON, April 6, 2022 – JLL Capital Markets announced today that it has closed the sale of Champions Village Shopping Center, a 383,346-square-foot retail power center anchored by Randalls in Houston, Texas.

JLL marketed the property on behalf of the seller, New Market Properties, LLC, a wholly owned indirect subsidiary of Preferred Apartment Communities, Inc. First National Realty Partners acquired the asset.

Champions Village Shopping Center is anchored by Randalls, which attracts more than 550,000 visitors per year and is a subsidiary of Albertsons, the third largest grocery chain in the U.S. The remaining tenancy comprises a dedicated roster with a collective weighted average tenure of 21 years, including Barnes & Noble, T.J.Maxx, Tuesday Morning, La Madeleine, Don Ramons Mexican Restaurant, Kirklands, Jenny Craig, Super Cuts, Bath and Body Works, Body & Brain Yoga, Berkeley Eye Center, Cassandra’s Louisiana Kitchen and MOD Pizza.

Positioned on 31.9 acres at 5215 FM 1960 Rd. W, Champions Village Shopping Center is within the northwest Houston area known as Champions, which has grown by 10.5 percent within a five-mile radius over the last decade. This property represents one of the largest and best located urban infill sites in the market and is highly visible, with more than 58,000 vehicles passing daily. The center is also in a dense residential area housing 106,417 residents and only two traditional full-service grocers 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, Vice President Sherri Rollins and Analyst Ethan Goldberg.

“Capital continues to seek quality retail assets, given the attractive yields still available today,” West said. “We were pleased to be involved in First National Realty Partners’ Texas debut.”

According to JLL Research’s recently released Grocery Tracker 2022 report, 2021 was a record year for grocery-anchored retail property transactions, with 735 total trades. Acquisition volume for the year was just over $13.3 billion, the largest share of any retail property type for the third year in a row and the second-highest level in recorded history.

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

About New Market Properties

New Market Properties, LLC is a wholly owned indirect subsidiary of Preferred Apartment Communities, Inc. and is focused on the grocery-anchored shopping center sector. New Market currently owns and operates a portfolio of grocery anchored shopping centers in nine states. New Market’s strategy is to prudently grow and operate its existing portfolio throughout the Mid-Atlantic, Southeast and Texas. New Market targets high quality suburban markets with dominant grocers such as Publix, Kroger, Harris Teeter, Tom Thumb, H-E-B and Giant Food.

About First National Realty Partners

First National Realty Partners (FNRP) is a rapidly growing commercial real estate private equity firm that owns and operates real estate throughout the United States. FNRP focuses on expanding its portfolio by acquiring market-dominant, well-located commercial assets well below replacement cost. Being vertically integrated, FNRP actively manages its portfolio through an in-house team of full-time real estate professionals focused on acquisitions, property/asset management, leasing, finance, accounting and investor relations.