Wu Properties has recently acquired three retail properties in the Houston area for a total of $55 million. According to the Houston Business Journal, one of these acquisitions is a former Sam’s Club located in Market Place at Eldridge. The 139,000-square-foot building had been vacant for several years before Wu’s purchase. Plans are underway to transform the warehouse store into a multi-tenant building and update its facade to better fit with surrounding retail.
In addition, Wu also purchased Presidio Square – an HEB-anchored shopping center spanning 189,338 square feet at 14416 Bellaire Blvd., situated on the corner of state Highway 6. Notable tenants include Family Thrift Center, AT&T, Subway, State Farm Insurance Agency and Chase Bank among others. At acquisition time,the center boasted an impressive occupancy rate of 96%, with only three vacancies.
Last September,Wu added another property – Shops at Cypresswood -to their portfolio.This Target-anchored shopping center spans over106 thousand square feet and is locatedat19507 North Freeway.Since then,Wu has successfully increasedthe occupancy rate from88%to99%.
Currently managing29retail propertiesinHouston totaling nearly3million square feetof leasable space,Wuis making waveswith their recent buying spreein this market.Their expertiseand strategic investmentsare evident as they continue togrowtheir presence inthe region.
