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303 Memorial City Way Houst...

Updated Oct 29, 2024

Mango Opens First Texas Location At Memorial City Mall In Houston's Retail Market
LEASEDRetail

Mango Opens First Texas Location At Memorial City Mall In Houston's Retail Market

303 Memorial City Way Houston, TX 77024, USA

Building Size

1,148 SF

Asset Type

Retail

Closing

Aug 2, 2023

About this deal

AI

A European fashion brand, Mango, has opened its first location in Texas at Memorial City Mall in Houston. The new store exclusively stocks Mango's women's line and spans across 1,148 square feet. The store features Mango's Mediterranean-inspired store concept, known as New Med. This expansion is part of Mango's U.S. expansion effort, with plans to open six more stores in Texas.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not provided
  • Address: 303 Memorial City, Houston
  • Market: Houston
  • Landlord: MetroNational - Danna Diamond
  • Tenant: Mango - Daniel López

With the launch of its first Texas location at Memorial City Mall, Mango aims to attract customers with its unique Mediterranean-inspired store concept, New Med. The store is part of Mango's wider strategy to establish its presence in the U.S. market. The company has plans to further expand its retail footprint by opening six additional stores in Texas, solidifying its commitment to the region.

Players

MetroNational
MetroNationalLandlord

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

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