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
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