{"id":1004672677,"date":"2023-07-24T03:33:01","date_gmt":"2023-07-24T11:33:01","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004672677"},"modified":"2023-07-24T03:33:03","modified_gmt":"2023-07-24T11:33:03","slug":"fully-leased-houston-strip-center-changes-hands","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/fully-leased-houston-strip-center-changes-hands\/","title":{"rendered":"Fully Leased Houston Strip Center Changes Hands"},"content":{"rendered":"<div id=\"attachment_1004672678\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/Uptown-Plaza-Image-courtesy-of-JLL.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004672678\" data-attachment-id=\"1004672678\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/fully-leased-houston-strip-center-changes-hands\/uptown-plaza-image-courtesy-of-jll\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/Uptown-Plaza-Image-courtesy-of-JLL.png\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Uptown Plaza, Image courtesy of JLL\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Uptown Plaza. Image courtesy of JLL&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/Uptown-Plaza-Image-courtesy-of-JLL.png?w=800\" class=\"wp-image-1004672678 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/Uptown-Plaza-Image-courtesy-of-JLL.png?w=300\" alt=\"Uptown Plaza. Image courtesy of JLL\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/Uptown-Plaza-Image-courtesy-of-JLL.png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/Uptown-Plaza-Image-courtesy-of-JLL.png?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/Uptown-Plaza-Image-courtesy-of-JLL.png?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004672678\" class=\"wp-caption-text\">Uptown Plaza. <em>Image courtesy of JLL<\/em><\/p><\/div>\n<p><strong>Pine Ridge Real Estate<\/strong> has acquired Uptown Plaza, a 28,000-square-foot retail center in Houston, in an all-cash transaction. <strong>JLL<\/strong> represented the seller in the deal.<\/p>\n<p>Located at 4715 Westheimer Road at the junction between Westheimer and Interstate 610, the shopping center provides convenient access to several Houston residential neighborhoods, including River Oaks, Tanglewood and Montrose.<\/p>\n<p>Built in 2002, the <a href=\"https:\/\/www.commercialsearch.com\/news\/how-strip-centers-are-staying-relevant\/\">strip center<\/a> sits on a 2.7-acre plot, offering potential for future redevelopment. At the time of the sale, Uptown Plaza was 100 percent leased to tenants including CVS, Vision Corner, Fizz Nails and Grotto, EG Geller Shoes, Lesley Ann Jewels and Alchemy 43. The property features an average tenure of more than 12 years and a weighted average remaining lease term of three years. The area\u2019s demographics are favorable, with the average household income within a 1-mile radius at almost $165,000.<\/p>\n<p>According to JLL, retail fundamentals in the River Oaks submarket remain strong, with the vacancy rate at only 3.3 percent. Across Houston, retail rents grew by 5.6 percent year-over-year.\u00a0The strong rental rate is driven by healthy population growth coupled with the challenges for new entrants in the retail supply market, said JLL Senior Managing Director Ryan West in prepared remarks. West, together with Senior Director John Indelli and Director Erin Lazarus, worked on behalf of the seller.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pine Ridge Real Estate acquired the 28,000-square-foot retail asset in an all-cash transaction.<\/p>\n","protected":false},"author":436,"featured_media":1004672678,"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":[32796],"class_list":["post-1004672677","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-houston","category-investment","category-latest","category-retail","category-southwest","tag-jll"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Fully Leased Houston Strip Center Changes Hands - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Pine Ridge Real Estate acquired the 28,000-square-foot retail strip center located in Houston in all-cash transaction.\" \/>\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\/fully-leased-houston-strip-center-changes-hands\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fully Leased Houston Strip Center Changes Hands\" \/>\n<meta property=\"og:description\" content=\"Pine Ridge Real Estate acquired the 28,000-square-foot retail strip center located in Houston in all-cash transaction.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/fully-leased-houston-strip-center-changes-hands\/\" \/>\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=\"2023-07-24T11:33:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-24T11:33:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/Uptown-Plaza-Image-courtesy-of-JLL.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Adina Rogoz\" \/>\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\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/fully-leased-houston-strip-center-changes-hands\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/fully-leased-houston-strip-center-changes-hands\\\/\"},\"author\":{\"name\":\"Adina Rogoz\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1e376ba4add70694b922380ddbe946d8\"},\"headline\":\"Fully Leased Houston Strip Center Changes Hands\",\"datePublished\":\"2023-07-24T11:33:01+00:00\",\"dateModified\":\"2023-07-24T11:33:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/fully-leased-houston-strip-center-changes-hands\\\/\"},\"wordCount\":230,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/fully-leased-houston-strip-center-changes-hands\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/07\\\/Uptown-Plaza-Image-courtesy-of-JLL.png\",\"keywords\":[\"JLL\"],\"articleSection\":[\"Houston\",\"Investment\",\"News\",\"Retail\",\"Southwest\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/fully-leased-houston-strip-center-changes-hands\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/fully-leased-houston-strip-center-changes-hands\\\/\",\"name\":\"Fully Leased Houston Strip Center Changes Hands - 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