Shops of Bella Terra Buyer Interest is Indicative of Retail Liquidity

Shops of Bella Terra, a 271,157-square-foot institutionally owned and operated regional power center in the Houston-area community of Richmond, recently sold to Fidelis Realty Partners LLC. Additionally, vacant land for additional pad site development was included in the sale. The price was undisclosed.

According to Placer.ai data, Shops of Bella Terra is the most visited shopping center within a five-mile radius, which includes 222,815 residents earning an average annual household income of $162,371. Situated on 35.57 acres at 5472 W. Grand Pkwy. and completed between 2008 and 2013, Shops of Bella Terra is 93 percent leased.

JLL marketed the property on behalf of the seller to close the sale. Additionally, working on behalf of the new owner, JLL placed the 10-year fixed-rate acquisition loan with Morgan Stanley. The team representing the seller was led by Barry Brown, Adam Howells, George Cushing, Wendy Vandeventer, Ethan Goldberg and Erin Lazarus.

“The significant buyer interest we received on Shops of Bella Terra is indicative of the broad liquidity taking shape in the retail sector targeting across deals of all sizes,” Brown said.

The JLL team representing the new owner included Colby Mueck, James Brolan and Stuart Hepler.