Colonnade of The Woodlands

Address

30420 FM 2978 Rd
The Woodlands, TX 77354

Property Overview

Edge Realty Capital Markets is pleased to present the opportunity to acquire Colonnade of the Woodlands, a 42,030 square foot, neighborhood retail center located in The Woodlands, Texas. This fully leased center is comprised of four high quality, multi-tenant retail buildings. The Property is leased to a diverse tenant mix of national, regional and local tenants, with an internet resistant lineup of restaurants, medical, service, art and recreational uses. Well-maintained, the asset features recent capital improvements including a new monument sign as well as a repainted exterior.

The Property is located within The Woodland’s 28,000-acre master planned community, a highly coveted trade area which is consistently recognized nationally as one of the 'Best Cities in America to Live'. Positioned near the lighted intersection of FM 2978 and Woodlands Parkway, the Property is easily accessible and abuts the prestigious golf course community of Sterling Ridge Village, which is comprised of 5,100+ sought after households with home values ranging from $550,000 to more than $2,000,000. With the immediate area boasting some of the highest home values in the city, the Property supports a well-educated and affluent population, promoting long-term success and viability for the Property's restaurant, fitness and service retail tenants.

Investment Highlights

Rare Investment Opportunity: This high quality established retail development is one of the very few privately owned properties located in the The Woodlands, one of Houston’s most well-known, affluent and deed restricted master-planned communities.

Below Market Rents and Operating Expenses: With rents and operating expenses on the rise over the last 5 years, Colonnade of the Woodlands provides a great value for both investors and tenants with average rents at $26.33/SF and operating expenses at $10.30/SF.

Affluent Housing Market: The center is surrounded by over 47,000 single family homes within a three-mile radius with median household incomes exceeding $154,000 within one mile of the Property.

Diversified, Internet Resistant Tenant Mix: The Property consists of a diversified line up of tenants with focuses on restaurants, service, medical, recreational and veterinary uses

Legacy Tenancy: Seven of the Property’s tenants, accounting for over 21,000 SF, have been operating at the Property for over seven years proving the viability and strong operating history of the center.

Recent Capital Improvements: The well-maintained asset features high quality construction and recently underwent numerous upgrades including a new monument sign as well as over $65,000 spent on new exterior paint.

Highly Affluent Housing Market: The center is surrounded by over 38,000 single family homes within a five-mile radius with median household incomes exceeding $139,000. In addition, the Property benefits from 1,550+ multifamily units and a senior living facility within a 0.5-mile radius.