New York City-based discount department store chain Shoppers World will open its first Houston store in a roughly 100,000-square-foot space formerly occupied by Ollie’s Bargain Outlet and Target. Highland Capital recently spent $18 million on the Steeplechase Center’s other properties located between U.S. Highway 290 and State Highway 249 in the Cypress-Fairbanks area of Houston, Texas.
Built in 1982 and renovated in 1990, the shopping center includes 195,000 square feet of retail space with 82% occupancy from current tenants such as DD’s Discounts, 99 Cents Only Stores Dollar Tree Leslie’s Pool Supplies Goodwill several restaurants and other retailers.
Highland Capital owns six shopping centers across five states that they look for undervalued properties to invest into that are between 20%-80% occupied with at least one national tenant present at each location.. The partners seek out these opportunities to maximize their investments while providing shoppers access to quality stores like Shoppers World throughout different regions of America
