Fidelis Acquires 855,000 SF Retail Portfolio, Market briefs

Fidelis Realty purchased this retail center in Missouri City, southwest of Houston.

In Houston, Fidelis Realty Partners, a Houston retail center developer, has purchased an 885,000-SF portfolio of three retail properties in Texas.

Chris Gerard, Mark Witcher and Blaine Dozier of CBRE represented the seller, InvenTrust Properties.

The portfolio includes the 272,535-SF Riverstone Shopping Center in Missouri City; the 370,367-SF Victory Lakes Town Center on the Gulf Freeway in League City and the 242,000-SF McKinney Towne Crossing in North Texas. The portfolio is 94 percent leased.

“The average household income surrounding the portfolio was an astounding $144,000, and really serves as a testament to the truly core demographics these properties cater to,” said Gerard.

Fidelis, led by Alan Hassenflu, recently reported the launch of medical real estate division. Fidelis owns the 1 million SF Meyerland Plaza center on Loop 610 at Beechnut and a number of retail centers in the Houston area.