Crossing at Telfair - Reserve C

Marcus & Millichap is pleased to exclusively offer for sale Crossing at Telfair - Reserve C, an H-E-B grocery shadow-anchored shopping center. The subject property has 33,661 square feet of leasable area on 5.57 acres of land, located at 350 Promenade Way, Sugar Land, Texas. Crossing at Telfair – Reserve C is offered for sale at a price of $14,741,000, which is a value of $438 per square foot to the building and a 7 percent day one cap rate.

The subject property benefits from a top-performing H-E-B supermarket that sees three million visits per year and ranks in the top thirteen percent of H-E-B stores nationwide, according to Placer AI. The property was built in 2018, prior to the run-up in cost of construction, so rental rates in the shopping center are below market rents for new construction of $35 per square foot plus triple-nets.

In addition to being situated off Highway 6 and Highway 90, two of Sugar Land’s most trafficked thoroughfares, the subject property and its tenants benefit from a population of approximately 95,000 residents with average household income of $105,000 within three miles of the property.