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The Market at Cross Creek Ranch (Phase II), Fulshear, TX (Houston MSA)

The Market at Cross Creek Ranch (Phase II), Fulshear, TX (Houston MSA)


Investment Summary

Price $11,107,000
Cap Rate 6.25%
NOI $694,154
Lease Term Various
Lease Type
Rental Increases Various
Year Built 2017
Building Size 22,802 SF
Lot Size 2.57 acres
Status Available
Lead Brokers Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Investment Highlights

NEWLY CONSTRUCTED TROPHY GROCERY-ANCHORED CENTER WITH MULTIPLE OUTPARCELS IN HOUSTON MSA
» 100% leased retail shops within high-performing H-E-B center within the Houston MSA, with attractive assumable financing at below market interest rates
» Regions Bank Absolute NNN Ground Lease with 13 years remaining on the lease
» Located in Fulshear, TX, The Market at Cross Creek Ranch greatly benefits from a strong income trade area with average household incomes over $200,000 in a 1-mile radius from the site
» H-E-B-anchored shopping center situated at the entrance to master-planned community Cross Creek Ranch and adjacent to two newly constructed schools. The newest H-E-B Market located at the corner of Farm to Market 1463 & Fulshear Bend Drive adds to the tremendous growth that Fulshear has already witnessed and will serve as a catalyst for continued growth
» Within walking distance from Cross Creek Ranch, a 3,200-acre master-planned community with 7,332 projected homes and known for its variety of homes, on-site schools and impressive slate of planned amenities, such as water parks, tennis courts, a dog park, sports fields and more than 60+ miles of hike-and-bike trails

PREMIER LOCATION IN ONE OF THE FASTEST GROWING AND AFFLUENT MARKETS IN THE COUNTRY
» The Market at Cross Creek Ranch is easily accessible at the signalized corner of Farm to Market 1463 Road and Fulshear Bend Drive, located minutes from Interstate 10, a major 880-mile Interstate Highway traversing the entire state of Texas and featuring over 71,000 vehicles per day near the site
» The Market at Cross Creek Ranch is located in a densely populated community with more than 530,000 residents living within a 10-mile radius
» A bustling community and one of the fastest-growing cities in Texas, the population of Fulshear skyrocketed from 1,589 in 2010 to 16,788 in 2023, a more than tenfold increase illustrating the city’s recent and explosive growth
» Surrounded by newly constructed master-planned communities, including Cross Creek Ranch (3,200 acres; 7,332 projected homes), Fulshear Ranch (2,335 acres; 4,000 projected homes), Firethorne (1,400 acres; projected 3,337 homes), and Westheimer Lakes (879 acres; 2,801 projected homes)
» Boasting an extremely affluent market, this retail center thrives on average annual household incomes exceeding $200,000 within a one-mile radius
» Adjacent to highly acclaimed and recently completed Katy ISD schools with an enrollment count of more than 4,800 students

Property Description

» The Market at Cross Creek Ranch is strategically located in the bustling community of Fulshear, surrounded by densely populated master-planned residential communities and well-attended schools
» Located along Farm to Market 1463 Road, the property benefits from its close proximity to Cross Creek Ranch (a master-planned community boasting 7,300+ homes) as well as Jordan High School and Joe M. Adams Junior High School (highly-acclaimed Katy ISD schools with 4,800+ students enrolled)
» 530,107 residents live within 10 miles of the property, establishing a strong and reliable customer base
» Fulshear’s rapid population growth has also sparked a surge in residential development, making it one of the most highly sought-after communities in the region
» The site maintains beneficial proximity to Houston, the most populous city in Texas and fourth most-populous city in the U.S. with a population of 2,305,889
» Houston is recognized worldwide for its energy industry and recently has become a growing hub for technology startup firms, providing a strong market in an income-tax-free state with many opportunities in diverse industries
» Home to 26 Fortune 500 companies, Houston is also a strategic location for thousands of companies, including ExxonMobil, Sysco, and Hewlett Packard Enterprise

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