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Texas Highway 6

Fort Bend Town Center Secures EoS Fitness With 40,000 SF Lease In Missouri City
LEASEDRetail

Fort Bend Town Center Secures EoS Fitness With 40,000 SF Lease In Missouri City

Building Size

40,000 SF

Asset Type

Retail

Closing

Nov 20, 2023

AI

Fort Bend Town Center, a 144-acre retail project located near Houston at Texas Highway 6 in Missouri City, has recently secured a new tenant for its Phase II. EoS Fitness has signed a lease for 40,000 square feet of space within the center.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: N/A
  • Address: Texas Highway 6, Missouri City
  • Market: Missouri City
  • Asset Type: Retail
  • Square Footage: 40,000

EoS Fitness will join other Phase II tenants, including Burlington, Ross Dress for Less, Ulta Beauty, Cava, Petco, Five Below, and America's Best. New Quest Properties, represented by Bob Conwell and Andrew Alvis, serves as the landlord's representative for Fort Bend Town Center. Jason Baker, from Baker Katz, represents EoS Fitness as their tenant's representative.

Phase III of Fort Bend Town Center is currently in development, which will feature a $70 million Metro Park and Ride.

Players

Bob Conwell

NewQuest Properties

Broker

11 deals

Broker

Rich Drengberg

EoS Fitness

Tenant

5 deals

Tenant

Market 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