Investment Overview

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, including Spring Rolling and Shipley's Donuts, have drive-through 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 multifamily 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.