JLL Capital Markets arranged the sale of Firethorne Plaza, a strip retail center at the gateway to one of Katy, Texas’ most sought-after master-planned communities.
JLL represented the seller. The buyer was Phillips Edison & Company (NASDAQ: PECO).
Firethorne Plaza is positioned at 2731 FM 1463 at the entrance to the Firethorne master-planned community. This prime location offers high visibility along a major north-south thoroughfare currently undergoing expansion from two to six lanes to accommodate robust traffic growth in the rapidly developing area.
The 29,986-square-foot retail center is 100% leased and includes 14 tenants with a strong mix of national, regional and local operators. National tenants include Edward Jones, Pizza Hut, Tide Cleaners and Eye Level Learning. The property features significant lease rollover opportunity with nine of 14 tenants rolling to market or holding fair market value renewal options within the next five years.
JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Senior Managing Director Ryan West and Senior Director John Indelli.
