{"id":1004662997,"date":"2023-05-17T04:20:35","date_gmt":"2023-05-17T12:20:35","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004662997"},"modified":"2023-05-17T04:20:37","modified_gmt":"2023-05-17T12:20:37","slug":"highland-capital-buys-houston-retail-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/highland-capital-buys-houston-retail-center\/","title":{"rendered":"Highland Capital Buys Houston Retail Center"},"content":{"rendered":"
\"Steeplechase<\/a>

Steeplechase Center. Image courtesy of JLL Capital Markets<\/em><\/p><\/div>\n

Highland Capital<\/strong> has paid $18 million for Steeplechase Center, a 195,575-square-foot retail center<\/a> in Houston, financing the purchase with a $15 million loan originated by Bank of America<\/strong>, according to CommercialEdge data.<\/p>\n

Jones 1960 Crossroads LLC, a subsidiary of Schreer Management<\/strong>, sold the asset it had acquired back in 2009 for $7.1 million, the same source shows. JLL <\/strong>Senior Director John Indelli and Senior Managing Director Ryan West brokered the transaction on behalf of the seller.<\/p>\n

Completed in 1983, the shopping center incorporates three buildings spread across a 19-acre site. Its tenant roster includes Goodwill, Melrose, Citi Trends, Uptown Beauty, Dollar Tree, dd\u2019s Discounts and 99 Cents Only, among others. The property was 82 percent leased at the time of sale.<\/p>\n

The neighborhood center is in the Cypress West submarket at 10705-10951 Jones Road, right off Cypress Creek Parkway. Downtown Houston is some 21 miles southeast.<\/p>\n

More than 1.2 million square feet of retail space have traded across the Houson metro since the beginning of the year, according to the same data provider; Steeplechase Center was the largest property to change hands.<\/p>\n","protected":false},"excerpt":{"rendered":"

The property previously traded in 2009 for $7.1 million.<\/p>\n","protected":false},"author":3014,"featured_media":1004662998,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1589,21783,21742,21749,51973],"tags":[33250,36347,32796],"class_list":["post-1004662997","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-houston","category-investment","category-latest","category-retail","category-southwest","tag-bank-of-america","tag-highland-capital-management","tag-jll"],"acf":[],"yoast_head":"\nHighland Capital Buys Houston Retail Center - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Highland Capital has purchased Steeplechase Center, a 195,575-square-foot retail center in Houston, from Schreer Management.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/highland-capital-buys-houston-retail-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Highland Capital Buys Houston Retail Center\" \/>\n<meta property=\"og:description\" content=\"Highland Capital has purchased Steeplechase Center, a 195,575-square-foot retail center in Houston, from Schreer Management.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/highland-capital-buys-houston-retail-center\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-17T12:20:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-17T12:20:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/steeplechase-center-teaser-e1684237077585.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Diana Firtea\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/highland-capital-buys-houston-retail-center\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/highland-capital-buys-houston-retail-center\/\",\"name\":\"Highland Capital Buys Houston Retail Center - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/highland-capital-buys-houston-retail-center\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/highland-capital-buys-houston-retail-center\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/steeplechase-center-teaser-e1684237077585.png\",\"datePublished\":\"2023-05-17T12:20:35+00:00\",\"dateModified\":\"2023-05-17T12:20:37+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a0c04b9de1387474e28c9ebdb0444e59\"},\"description\":\"Highland Capital has purchased Steeplechase Center, a 195,575-square-foot retail center in Houston, from Schreer Management.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/highland-capital-buys-houston-retail-center\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/highland-capital-buys-houston-retail-center\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/highland-capital-buys-houston-retail-center\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/steeplechase-center-teaser-e1684237077585.png\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/steeplechase-center-teaser-e1684237077585.png\",\"width\":800,\"height\":600,\"caption\":\"Steeplechase Center. 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