Magnolia Place

Price: $9,306,000
Sq. Ft.: 18,582
Cap Rate: 6.5%
Built: 2022

Magnolia Place is a 100 percent occupied, 18,582-square-foot, multi-tenant retail center located in Magnolia, Texas. Newly constructed in 2022, the subject property is comprised of two multi-tenant buildings situated on 3.45 acres with ample concrete parking. Tenants are a complementary mix of regional and local retailers, including Spring Rolling Restaurant, Twin Liquors, Go Health Urgent Care, Shipley’s Donut, Nails R Us, Marco’s Pizza, Texas Hair Team, and Sakura Bistro. End cap suites Spring Rolling and Shipley’s Donuts have drive-thru windows. All leases have new 10-year, triple-net terms and include scheduled rent escalations.  Double-sided pylon signage provides additional exposure to the center.

The subject property is located on FM 1488 Road, near the intersection with Spur 149. The center benefits from multiple ingress and egress points and has traffic counts of 12,781 vehicles per day. Shadow-anchored by a new H-E-B Grocery store, the adjacent Magnolia Place development will include 120 planned single-family lots to be developed by Meritage Homes, more than 275 multi-family units, and potential future retail pad sites. Directly across from the Magnolia Place development is Heritage Green, a 48-acre mixed-use development bringing office, residential units, and retail including CVS Pharmacy, MOD Pizza, Great Clips, Jersey Mike’s, Starbucks, Wells Fargo, Wendy’s, Valvoline, and more.

  • 18,582-Square-Foot Retail Center | Comprised of Two Multi-Tenant Buildings |  New (2022) Construction
  • Shadow-Anchored by a Newly Constructed H-E-B Grocery Store and Adjacent to a Chase Bank Pad Site | Part of The Magnolia Place Development | Future Construction of Single-Family Lots, Multifamily Units, and Additional Retail Pad Sites
  • 100% Occupied | All Leases are Triple-Net | Tenants are a Complementary Mix of Regional and Local Retailers
  • All Leases are New 10-Year Terms with Rent Escalations and Options for Renewal | 68% of the GLA have Personally Guaranteed Leases
  • Directly Across from Heritage Green, a 48-Acre Mixed-Use Development Currently Under Construction | Includes Retailers such as CVS Pharmacy, MOD Pizza, Great Clips, Jersey Mike’s, Starbucks, Wells Fargo, Valvoline, Wendy’s, Heartland Dental, and More
  • Close Proximity to Magnolia High School | 2,035+ Student Population
  • Near Audubon Magnolia Development | 3,000-Acre Master Planned Community Located Along FM 1488 and Aggie Expressway that will Feature Single and Multi-Family Homes, Retail Spaces, an On-Site School, Walking Trails and Parks
  • Highly Affluent Area with an Average Household Income of $154,267 within One Mile; $132,304 within Three Miles; and $123,300 within Five Miles
  • Montgomery County Ranks as One of the Fastest-Growing Counties in the Nation | City of Magnolia lies within the Houston-The Woodlands-Sugar Land Metropolitan Area