Florida investor snaps up Houston shopping center

A shopping center anchored by Conn’s and Petco in Humble has changed hands between two Florida investors.

South Florida-based JBL Asset Management has expanded its Houston retail portfolio with the purchase of the Humblewood Shopping Center, a 163,897-square-foot power center at 19611 U.S. 59 in Humble. The company has six other shopping centers in the Houston area, including the Market at Westchase, Clear Lake Shopping Center among its more than 2 million square feet of commercial real estate, according to its website.

JLL Capital Markets, which marketed the property for seller Forge Capital Partners of Tampa, announced the sale. Terms were not disclosed.

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U.S. shopping center sales have been a growing focus for investors, totaling $4.4 billion in May, according to commercial real estate research firm MSCI Real Assets. The amount is 65 percent higher than May 2021.

Several power centers have been sold in Houston recently, including the 263,000-square-foot Market Square at Eldridge Parkway purchased by Wu Properties, the 383,346-square-foot Champions Village Shopping Center purchased by First National Realty Partners, and the 231,126-square-foot Willowchase Center, also acquired by Wu Properties.

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Located just south of Deerbrook Mall at the southwest corner of U.S. 59 and FM 1960 Bypass Road East, Humblewood Shopping Center is also home to Michaels, DSW, Five Below, Texas State Optical, Sketchers, GameStop, Honey Baked Ham, Jason’s Deli, Smoothie King, IHOP, Humble Nails, Gadget MD and Ace Cash Express.

More than 43,280 residents with an average annual household income of nearly $84,000 live within a three-mile radius of the center, according to JLL.

Chris Gerard, Ryan West and Erin Lazarus of JLL led the team representing the seller.