Retail Development
Hearthstone
- Location
- Houston, TX
- Size
- 15,800 Sqf
- Deal Type
- Acquisition
- Strategy
- Value-add
- Year
- 2019
- Net Investor Return
- 80%
- Net Annual Return
- 24.6%
- Hold Period
- 3.25 Yrs.
- Equity Multiple
- 1.80x
Inactive owner sold asset to streamline his portfolio. The center was 60% leased with all tenants having been there for 10+ years. An active owner with a strong leasing strategy can fill the remaining three spaces with a diverse mix of service tenants (food, insurance, hair & nails etc.) by offering strong tenant incentives and affordable rents. The Center has high visibility and sits between a new Westbound Bank and Popeye’s with a drive-thru.