Highland Capital Acquires 195,575-Square-Foot Retail Center In Houston
10705 Jones Rd W Houston, TX 77065, USA
Building Size
195,575 SF
Asset Type
Retail
Closing
May 15, 2023
About this deal
AI
The sale of Steeplechase Center, a retail center located at 10705-10951 Jones Road in Northwest Houston, has been successfully concluded. The property spans 195,575 square feet and is known for its diverse tenant lineup, attracting buyer demand. Highland Capital, a prominent investor, acquired the retail center from Jones 1960 Crossroads, LLC.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not available
- Address: 10705-10951 Jones Road
- Market: Houston
- Size: 195,575 square feet
JLL Capital Markets facilitated the deal as the broker for both parties. The buyer, Highland Capital, recognized the potential for lease-up and rental rate upside in the center's tenant lineup, further driving their interest in the property.
Note: No additional information regarding the transaction was provided.
Players
Texas Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Deal FAQ
Browse Texas retail sales on Traded.
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