JLL Capital Markets marketed the 231,000-square-foot property for Fidelis.
Wu Properties has acquired the Willowchase Center, a 231,126-square-foot shopping center at 12900-12974 Willowchase Drive in northwest Houston. The seller was Fidelis.Wu Properties, a Houston-based investment firm led by Steve Wu, has acquired the Willowchase Center, a Fiesta grocery-anchored shopping center near Texas 249 and FM 1960 in northwest Houston.
The 231,126-square-foot shopping center is 97.2-percent leased with Fiesta, a Hispanic supermarket chain based in Houston, as the lead tenant. Other stores include dd’s Discounts, Jo Ann Fabrics and Crafts, Goodwill, Northern Tool and Equipment, Mattress Firm, Family Dollar, America’s Best, Jamboree Dentistry and Metro PCS. An adjacent Rooms to Go was not part of the sale.
Houston retail is rebounding after the pandemic, with sales projected to climb by 10 percent in 2022, according to commercial real estate firm Marcus & Millichap. As the Houston region gains jobs and population, rents for retail properties in the Houston area are projected to grow by 3.2 percent in 2022. Retail vacancy, meanwhile, is projected to fall to 5.8 percent in 2022, down from 6.2 percent in 2021.