Marcus & Millichap is pleased to present the opportunity to acquire a 125,893-square-foot, multi-tenant, neighborhood retail center located in Rosenberg, Texas. Rosenberg Center is currently 86 percent leased; approximately 50 percent of the gross leasable area is leased to Fiesta Mart, which never moved in but continues to pay rent and expense reimbursements per lease terms. Anchored by Planet Fitness and Dollar General, the tenant base is a complementary mix of largely internet-resistant, service-oriented businesses, including Tie Pharmacy, I am Supplements, a Barber Shop, Logic Home Health, H&R Block, Young Brothers Taekwondo, Today’s Vision, Fusion Kitchen, Remco Insurance, UT Physicians, Boost Mobile, and 301 Foot Massage. Additional income is derived from an American Recyclers bin located in the subject property’s parking lot. Originally constructed in 1986, the center is comprised of two buildings situated on two land parcels totaling 15.18 acres with ample paved parking.
Rosenberg Center is located on Avenue H, near the signalized intersection with Old Richmond Road with multiple ingress and egress points. The main access to the center from Avenue H has traffic counts of approximately 21,424 vehicles per day. Nearby national and regional retailers include dd’s Discounts, Dollar Tree, Citi Trends, Family Dollar, EZPAWN, Jackson Hewitt, Pizza Hut, T-Mobile, Burger King, Subway, Jack in the Box, Walgreens, and many others. Rosenberg Center is also in close proximity with Lamar Jr. High School and Lamar Consolidated High School; both schools have a current enrollment of approximately 1,260 and 1,733 students, respectively, providing additional traffic to the area. The surrounding area benefits from strong demographics, serving a population of more than 107,713 residents within a five-mile radius.. The average household income is $61,538 within one mile; $82,568 within three miles; and $103,296 within five miles.
- 125,893-Square-Foot, Multi-Tenant, Gym-Anchored Neighborhood Retail Center
- Anchored by Planet Fitness and Dollar General, both Publicly Traded Companies (NYSE: PLNT and NYSE: DG) | Planet Fitness has a Strong Franchisee Guaranty from a 36-Unit Operator
- 86% Leased | Current Average Rents are Below Market | Significant Upside Potential in Leasing Vacancies
- 50% of the GLA is Leased to Fiesta Mart | Store is Dark (Tenant Never Occupied the Center) but Continues to Pay Rent and Expense Reimbursements per the Lease Terms | Approximately Eight Years Remaining on the Term
- Tenant Base is a Complementary Mix of Largely Internet-Resistant, Service-Oriented Businesses
- Seller Reports Recent Property Improvements Include Upgrading all Exterior Lighting to LED | New Roof was Installed Approximately Eight Years Ago
- Priced at $113 per Square Foot | Well Below Replacement Cost
- Located Near the Signalized Intersection of Avenue H and Old Richmond Road | Traffic Counts are Approximately 21,244 Vehicles per Day
- Property is Comprised of Two Buildings Situated on 15.18 Acres | Easily Accessible from Multiple Ingress and Egress Points
- Nearby National and Regional Retailers Include dd’s Discounts, Dollar Tree, Citi Trends, Family Dollar, EZPAWN, McCoy’s, T-Mobile, and Many Others
- One-Mile Average Household Income is $61,538 | Three-Mile Average Household Income is $82,568 | Five-Mile Average Household Income is $103,296
- Rosenberg is Located in Fort Bend County Within the Houston-The Woodlands-Sugar Land Metropolitan Area | Approximately 25 Miles West of Houston, Texas
