NewQuest Properties Signs Six Tenants For International Retail Hub At 12220 Westheimer Road In Houston
12220 Westheimer Rd Houston, TX 77077, USA
Building Size
90,000 SF
Asset Type
Retail
Closing
Jul 20, 2023
AI
The international retail hub, West on West, located at 12220 Westheimer Road in Houston, has recently signed six new tenants. The development, spanning 90,000 square feet, boasts a diverse mix of shops that will cater to various tastes and preferences. Among the new tenants are Tsujita Artisan Noodle, Paris Baguette, the Alley, SomiSomi, Lady M, and Kaiten Sushi Ginza Onodera. Some of these shops are set to open their doors to the public this fall.
Summary of transaction details
- Property Type: Retail
- Square Footage: 90,000
- Address: 12220 Westheimer Road, Houston
- Tenants: Tsujita Artisan Noodle , Paris Baguette , The Alley, SomiSomi, Lady M & Kaiten Sushi Ginza Onodera
- Broker: Heather Nguyen - NewQuest Properties
NewQuest Properties, represented by broker Heather Nguyen, successfully secured the leases for the international retail hub, West on West. This collection of diverse and popular brands will bring a vibrant mix of culinary delights and unique experiences to the Houston market. With the addition of these tenants, the development is poised to become a go-to destination for locals and visitors alike.
Players
Texas Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93