Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a 70,275-square-foot, multi-tenant neighborhood retail center in Houston, Texas. Chelsea Square is currently 65 percent occupied, providing significant upside potential in leasing the remaining vacancies. All current leases are triple-net. The tenant base is a complementary mix of internet-resistant, service-oriented businesses including a church, Game Over Videogames, Liz Hair, Massage Tao, Phoenix Rising Vapor, Dog Grooming, Vybe Creative, Astro Insurance Agency, J Tea, La Perla Tapatia Taqueria, La Villa Event Venue, Castle Dental, New Orleans Seafood & Daiquiri, Republic Finance, Lux Lashes Studio, and TLC Hair Salon. The center was constructed in 1984 and is situated on 4.5 acres with ample paved parking. Two large double-sided monument signs provides additional exposure to the center. Chelsea Square is located at the signalized, hard corner intersection of FM 1960 Road West (Cypress Creek Parkway) and Wunderlich Drive. Cumulative traffic counts in front of the property exceed 49,599 vehicles per day. The subject property is near many national and regional retailers including Dollar Tree, Petco, Goodwill, Office Depot, Cici's Pizza, T.J. Maxx, Big Lots, Ross Dress for Less, Hobby Lobby, Gordon Food Service Store, GameStop, Planet Fitness, Jersey Mike's Sub, 99 Cents Only Stores, The Honey Baked Ham Company, McDonald's, Papa John's Pizza, Randall's, Barnes & Noble, Spirit Halloween, Lupe Tortilla, The Container Store, and many more. The surrounding area is densely populated with 110,719 residents within three-miles and 320,072 residents within five miles of the property.