Florida investor takes over Houston mall

A mall anchored by Conn’s and Petco in Humble has changed hands between two Florida investors.

South Florida-based JBL Asset Management has expanded its retail portfolio in Houston with the purchase of Humblewood Shopping Center, a 163,897 square foot mall located at 19611 US 59 in Humble. The company has six other shopping centers in the Houston area, including the Market at Westchase, Clear Lake Shopping Center among its more than 2 million square feet of commercial real estate, according to its website.

JLL Capital Markets, which marketed the property for Tampa-based seller Forge Capital Partners, announced the sale. Terms were not disclosed.

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U.S. shopping center sales are increasingly front and center for investors, totaling $4.4 billion in May, according to commercial real estate research firm MSCI Real Assets. The amount is 65% higher than in May 2021.

Several malls have been sold in Houston recently, including the 263,000 square foot Market Square at Eldridge Parkway purchased by Wu Properties, the 383,346 square foot Champions Village Mall purchased by First National Realty Partners, and the 231,126 square foot – Willowchase Center foot, also acquired by Wu Properties.

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Located just south of the Deerbrook Mall at the southwest corner of US 59 and FM 1960 Bypass Road East, Humblewood Mall is also home to Michaels, DSW, Five Below, Texas State Optical, Sketchers, GameStop, Honey Baked Ham, Jason’s Deli, Smoothie King, IHOP, Humble Nails, Gadget MD and Ace Cash Express.

More than 43,280 residents with an average annual household income of nearly $84,000 live within a three-mile radius of the center, according to JLL.

JLL’s Chris Gerard, Ryan West and Erin Lazarus led the team representing the vendor.

Edwin S. Wolfe