JBL Asset Management has expanded its retail holdings in Greater Houston with the acquisition of Montgomery Plaza, a large shopping center in Conroe. The property spans 315,708 square feet at the northwestern corner of Interstate 45 and Loop 336, a well-traveled junction in the community. JBL acquired the asset from American National Insurance Co., marking another addition to its portfolio of shopping centers across the region.
Montgomery Plaza is a seasoned retail asset that has undergone multiple investment cycles. According to reporting by the Houston Business Journal, the center was originally built in 1981 and later renovated in 1993, reflecting prior efforts to keep the property competitive in its trade area. Today, the shopping center is reported to be more than 94% occupied, indicating limited vacancy and a relatively stable rent roll for the ownership.
The tenant roster at Montgomery Plaza is anchored by a range of well-known national and regional brands. Major tenants include Academy Sports + Outdoors, O’Reilly’s Auto, Crunch Fitness, Spec’s Wine, Spirits & Finer Foods, Petco, and Dollar Tree. The mix of sporting goods, auto parts, fitness, specialty liquor, pet supplies, and discount retail suggests a cross-category draw that can help sustain traffic throughout the day and week.
For JBL, the Montgomery Plaza acquisition represents its sixth retail center in the Greater Houston area. The repeat investment in the same metropolitan market underscores the firm’s focus on expanding its footprint in established retail corridors. Beyond Houston, JBL also owns and manages properties in Florida and Georgia, reflecting a broader Sun Belt presence across multiple states.
The Conroe location provides additional context for the investment. Conroe was described as Houston’s fastest-growing suburb in 2025 and ranked No. 20 nationally for growth based on the number of people who rented U-Haul trucks to move between cities. This indicator points to strong in-migration and household formation in the area, which can support continued retail demand at well-located centers such as Montgomery Plaza.
Rapid growth has also introduced constraints on new development. The city of Conroe imposed a building moratorium that lasted from August 2024 to August 2025, temporarily limiting new construction activity. While the moratorium has ended, its recent existence highlights the importance of existing retail inventory in meeting consumer needs amid strong population gains. The acquisition of a high-occupancy, established center like Montgomery Plaza positions JBL within a market that has shown both robust growth and regulatory limits on near-term supply.
JBL’s experience owning and managing properties in Florida, Georgia, and Texas provides the firm with a platform approach to regional retail operations. With Montgomery Plaza now part of its portfolio, JBL has increased its exposure to a high-growth suburban node within the Greater Houston market while adding a large, largely leased asset to its existing stable of shopping centers.
