University Plaza

Address

2409 Bay Area Blvd
Houston, TX 77058

Property Overview

Edge Capital Markets has been exclusively retained to present the opportunity to acquire University Plaza, a 100% leased, 95,960 square foot community shopping center anchored by Goodwill and Dollar Tree at a strategic location along Bay Area Boulevard, in the heart of Clear Lake (Houston), Texas.

University Plaza is located at the signalized intersection of Bay Area Blvd and Space Center Boulevard, the primary east-west thoroughfare for the established trade area with an average of over 40,000 vehicles per day and is accessible via ten (10) ingress/ egress points, providing excellent access and visibility to the surrounding trade area.

The Property possesses a diverse group of national, regional, and local tenants focused on providing consumers with e-commerce-resistant or e-complimentary experiences that will continue to be the trade area’s focal location based on a minimal new development underway in the entire Clear Lake submarket based on a pocketed location buffered by existing residential, governmental restrictions, or natural barriers.

University Plaza is surrounded by a well-educated population of approximately 150,000 residents within a five-mile radius, largely driven by the strong economy driven by well-compensated employment opportunities focused on aerospace, tech, and engineering, with an average household income of $107,843. The Property offers immediate access to affluent neighborhoods, boasting home values over $1,000,000.

University Plaza offers the ability to acquire a well-maintained community shopping center with a reliable income stream based on diversification based on economic diversity, contractual rent increases, landlord-friendly language, and an extended weighted average lease term.

Investment Highlights

Reliable Income Stream: The reliability of the University Plaza’s income is a combination of economic diversity, contractual rent increases, landlord-friendly language, and an extended weighted average lease term.

Robust Retail Submarket: University Plaza is located at the signalized intersection of Bay Area Blvd and Space Center Boulevard, the primary east-west thoroughfare for the established trade area, with a minimal vacancy of 4.9 %, like Houston’s overall of 5.1%. With a lack of available space in the immediate trade area and less than 1% of current inventory under construction in the entire submarket, the Property is poised to continue to be the premier location for existing retailers and those looking to locate in the submarket.

Consumer-Focused Tenancy: The Property possesses a diverse group of national, regional, and local tenants focused on providing consumers with e-commerce-resistant or e-complimentary experiences that balance each other by promoting cross-shopping, creating a reliable drawing power to attract shoppers and other retailers to the Property

Affluent Demographics: University Plaza is surrounded by a well-educated population of approximately 150,000 residents within a five-mile radius, largely driven by the strong economy driven by well-compensated employment opportunities focused on aerospace, tech, and engineering, with an average household income of $107,843. The Property offers immediate access to affluent neighborhoods, boasting home values over $1,000,000.

Insulated Infill Location: The Property is insulated from future retail development based on University Plaza’s pocketed location buffered by existing residential, governmental restrictions, or natural barriers by being amongst over 31,000 households to the north and west, and NASA and wetlands to the south and east.

Prominent Location: University Plaza holds a coveted location with close to 900 feet of frontage on Bay Area Boulevard, the main thoroughfare for Clear Lake, at a signalized intersection that sees an average of over 40,000 vehicles per day and is accessible via ten (10) ingress/ egress points, providing excellent access and visibility to the surrounding trade area.