JLL Capital Markets arranged the sale of Ashford Village, an 81,407-square-foot grocery-anchored retail center in Houston, Texas.
JLL represented the sellers, Spencer Hough, Tommy Le (3 Real Estate Group) and George Giannukos.
Located at 1801 S Dairy Ashford Rd, Ashford Village is positioned in Houston’s Energy Corridor, the city’s premier office submarket. The property is located between Westchase and the Energy Corridor along South Dairy Ashford Road, which carries 32,500 vehicles per day. Just half a mile down Dairy Ashford the new Ashford Yard mixed-use development featuring 90,000 square feet of retail, office and restaurant space plus 350 luxury apartments is underway. The center serves the affluent Memorial West residential area where average home prices reach $768,000 and is near Stratford High School with 2,312 students.
The property serves a growing demographic base with 10.6% population growth projected within a five-mile radius from 2010-2025. The surrounding area features close proximity to major employment centers in the Westchase district.
Built in 1979 and renovated in 2014, the center is anchored by Seiwa Market, a specialty Japanese grocery retailer, and includes tenants such as Dollar Tree, Book Off, Goldfish Swim School, Giggles and Fun, and Salon Village. Seven of the property’s 15 tenants specifically target Asian consumers, reflecting the area’s demographic composition where the Asian population has grown 23.6% since 2010.
JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by Senior Director John Indelli and Senior Managing Director Ryan West, with analytical support from Dawson Hastings and Max Myers.
