Investment Overview

The Center at Ridge Rock is a 100 percent occupied, 49,252-square-foot, multi-tenant retail center located in Pearland, Texas. Tenants are a complementary mix of internet-resistant, service-oriented businesses, including Italiano's Restaurant, Popular Popcorn, Cinderella Nails & Spa, Sandera, Albert Pharmacy, Idea Lab Kids, TC Cleaners, Lotus Seafood at Broadway, Elite Chiro Group, Kid 'N Play Indoor Playground, Broadway Learning Center, and Athletic & Performing Arts Center. All leases are triple net with scheduled rent escalations. Constructed in 2017, the building is situated on a large 5.4-acre parcel with ample concrete parking. The subject property is in a prime location, positioned near the intersection of Broadway Street and Kirby Drive with close access to State Highway 288, a major thoroughfare that connects Downtown Houston and Brazoria County. Traffic counts in front of the property on Broadway Street are approximately 36,127 vehicles per day. The center is located in a dense retail trade area, neighbored by numerous national and regional tenants including H-E-B, Five Below, TJ Maxx, Ross Dress For Less, Rack Room Shoes, Petco, Carter's, Bath & Body Works, Academy, Hobby Lobby, Ashley Furniture, Burlington, McDonalds, Wells Fargo, Jamba Juice, Chick-Fil-A, Verizon, Wingstop, AT&T, My Eyelab, Jersey Mike's, and many more. The surrounding area benefits from excellent demographics, serving a population of more than 184,919 residents within a five-mile radius. The average household income is $135,187 within one mile; $133,058 within three miles; and $106,902 within five miles.