JLL Capital Markets announced today that it has closed the sale of West U Marketplace, a 60,136-square-foot retail center anchored by Whole Foods Market in Houston, Texas.
JLL marketed the property on behalf of the seller, an affiliate of Camden Securities Company. Brixmor Property Group acquired the asset.
West U Marketplace is anchored by a high-performing Whole Foods and is further complimented by a mix of popular tenants, including Yoshi Sushi, Natural Pawz, Island Grill, French Cuff Boutique, River Oaks Nail & Spa and a national bank. JLL Research’s recently released Grocery Tracker 2022 report tracked the fastest growing grocers in 2021, with Whole Foods Market ranking within the top 10 nationally.
Positioned at 4004-4060 Bellaire Boulevard, West U Marketplace is at the NW corner of Weslayan and Bellaire Boulevard, which is seen by approximately 44,080 vehicles per day. The property is in Houston’s West University area, which is an affluent part of Central Houston. More than 195,500 residents earning an average annual household income of $156,574 live within a three-mile radius.
The JLL Retail Capital Markets team representing the seller was led by Senior Managing Directors Chris Gerard and Ryan West and Analyst Katherine Miller.
“Retail in the Texas markets is extremely strong,” West said. “Iconic assets – like this Whole Foods-anchored center in the heart of West University – infrequently change ownership, but the growth of the Houston economy and, in turn, retail fundamentals, continue to drive significant transactions like this one.”
