Mason Village shopping center in Houston, TX sold

HOUSTON, Oct. 29, 2024 -  JLL Capital Markets announced today the sale of Mason Village Shopping Center, a 96,486-square-foot shopping center located in premier Mason Rd retail corridor in West Houston, Texas.

JLL worked on behalf of the seller, DNA Partners, in the sale. Longpoint Realty Partners acquired the asset.

Mason Village Shopping Center is a top performing retail center in West Houston with direct access to I-10 and is the 2^nd most visited essential retail center within a 15-mile radius according to Placer AI. The center is anchored by La Michoacana, one of Texas' premier Hispanic grocers with over 200 stores statewide. Additionally, there is a dynamic mix of tenancy including national brands, Harbor Freight, Freebirds, Jiffy Lube and Jason's Deli, and diverse local tenants.

Mason Village, strategically situated at intersection of Mason Road and I-10, is located in center of Houston's population, featuring unmatched demographics. Mason Rd provides excellent access and visibility to the center with over 45,000 vehicles per day. The location offers convenient access directly to I-10 and is adjacent to grocers Fiesta and 99 Ranch.

Mason Village represents excellent value-add opportunity with in-place rents over 24% below market on average. With 14 of 27 current tenants expiring without fixed rate options, Mason Village is positioned to benefit from the robust rental fundamentals seen in Houston and across the nation. The national retail market is currently experiencing the lowest number of deliveries since 2017 and highest net absorption in the last six years.

The JLL Investment Sales and Advisory team was led by Senior Managing Director Ryan West, Senior Director John Indelli and Analyst Clay Anderson.

"Infill retail centers in Houston continue to attract outstanding investor demand," Anderson said. "Mason Village represented the opportunity to acquire a well-located center with established tenancy, a secure revenue stream and substantial embedded value-add potential."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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