Press Releases
Marcus & Millichap Arranges Sale of Two Retail Centers in Houston Suburb
January 17, 2025
HOUSTON, Jan. 17, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today sale of Crossing at Telfair Reserve I and Reserve C, two retail strip centers located in Sugar Land, Texas. Both properties are part of the 112-acre Telfair Crossing mixed-use development, positioned near major thoroughfares.
“This project’s excellent location adjacent to H-E-B at the entry to the high-demographic Telfair neighborhood gave it broad appeal,” said Justin Miller, senior vice president investments. “This is truly a legacy asset, and we were pleased to see it secured by a buyer with a long-term view.”
Miller exclusively marketed the property on behalf of the seller, a Houston-based developer. Marcus & Millichap’s Alex Wolansky, Gus Lagos and Scott Jones procured the buyer, a local private investor.
Crossing at Telfair Reserve I is located at 222 Hwy 6 and comprises 14,512 square feet on a 2.25-acre parcel. Built in 2021, the property comprises tenants including Eggholic and Mercy ER.
Crossing at Telfair Reserve C is located at 350–400 Promenade Way and comprises 33,653 square feet on a 5.57-acre parcel. Built in 2019, it is shadow anchored by H-E-B and home to 15 tenants including Wingstop, Hertz, and Pet Supplies Plus.
“This project’s excellent location adjacent to H-E-B at the entry to the high-demographic Telfair neighborhood gave it broad appeal,” said Justin Miller, senior vice president investments. “This is truly a legacy asset, and we were pleased to see it secured by a buyer with a long-term view.”
Miller exclusively marketed the property on behalf of the seller, a Houston-based developer. Marcus & Millichap’s Alex Wolansky, Gus Lagos and Scott Jones procured the buyer, a local private investor.
Crossing at Telfair Reserve I is located at 222 Hwy 6 and comprises 14,512 square feet on a 2.25-acre parcel. Built in 2021, the property comprises tenants including Eggholic and Mercy ER.
Crossing at Telfair Reserve C is located at 350–400 Promenade Way and comprises 33,653 square feet on a 5.57-acre parcel. Built in 2019, it is shadow anchored by H-E-B and home to 15 tenants including Wingstop, Hertz, and Pet Supplies Plus.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
