Wu Properties purchased Market Square at Eldridge, a 262,556 square foot retail center in West Houston. The roughly 32-acre parcel was 98% leased at the time of the sale. It has an appraised value of more than $44 million.
Tenants include Burlington, Michael’s, Party City, PetSmart, Old Navy and more. A Target store and vacant Sam’s Club are in the center, but were not included in the sale.
JLL marketed the property on behalf of the seller, Walton Street Capital. In its marketing material JLL said that Market Square was among the top 5% of US shopping centers for foot traffic. Three months ago, Wu acquired the Willowchase Center, a 231,126-square-foot shopping center in northwest Houston.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.