CenterSquare acquired the Shops at Aliana Trace retail center in Houston.
Shops at Aliana Trace is a 40,000-square-foot new construction Essential Service Retail property. The property is situated within one of Texas’ fastest growing retail corridors along Houston’s 3rd ring highway, Grand Parkway, seeing over 100,000 vehicles per day.
The Property is a 100% leased center that is home to a strong lineup of national tenants, including Big Blue Swim, Salon by JC and Wayback Burgers. The Property sits adjacent to a brand new Costco, and a dominant power center, Grand at Aliana, anchored by Target and HEB and is located at the doorstep of 8,000+ homes, where residents must pass the Property to access Grand Parkway, Houston’s 3rd loop highway.
The submarket’s population is expected to grow by 20% in the next five years, while surrounding 3-mile demographics exceed 100,000 in density and median household incomes. This opportunity marks CenterSquare’s 53rd ESR shopping center acquisition.
