DNA Partners recently sold the Mason Village Shopping Center, a 96,486-square-foot retail center located in West Houston. The buyer was Longpoint Realty Partners and JLL represented the seller in the transaction. The JLL Investment Sales and Advisory team, led by Ryan West, John Indelli and Clay Anderson, worked on behalf of DNA Partners.
According to data from Placer AI, Mason Village is one of the top essential retail centers within a 15-mile radius with high visitor traffic. It is anchored by La Michoacan, a Hispanic grocery chain with over 200 stores statewide. Other tenants include Harbor Freight, Freebirds,Jiffy Lube,and Jason’s Deli.
JLL reports that Mason Village presents an attractive opportunity for value-add investment as current rents are approximately 24% below market average. With more than half of its current tenants’ leases expiring without fixed-rate options (14 out of 27), there is potential for increased rental income given Houston’s strong rental market conditions as well as national trends showing low delivery rates since 2017 and high net absorption in recent years.
The acquisition news was first reported by Connect CRE.
