Whole Foods-Anchored Center Sold, Market briefs

In Houston, Brixmor Property Group put another Whole Foods-anchored shopping center in its portfolio with the purchase of the Vintage Marketplace in northwest Houston.

The New York-based real estate investment trust purchased the 72,184-SF center at 10133 Louetta Road, as stated by JLL Capital Markets. In addition to Whole Foods, tenants include Torchy’s Tacos, Orangetheory Fitness, Mod Pizza, Jersey Mike’s, Nothing Bundt Cakes and other service-oriented retailers.

Brixmor Property Group purchased two other area centers anchored by Whole Foods in 2022: West U Marketplace on Bellaire Boulevard and Lake Point Village in Sugar Land.

Vintage Marketplace, which draws more than 2.1 million visits annually, serves the Champions Forest, Lakewood Forest, and Cypresswood communities. The property is 94.4% occupied.

Ryan West, Chris Gerard, and Erin Lazarus, of JLL Capital Markets marketed the property for the seller.

“The sale of Vintage Marketplace demonstrates the continued investor interest in well-positioned grocery-anchored assets with strong credit tenancy and growth potential,” said Ryan West, Managing Director of JLL Capital Markets. “The property’s strategic location in one of Houston’s most affluent submarkets and its limited competitive exposure make it an attractive purchase for Brixmor Property Group.”

The average household income within a five-mile radius of the center at Louetta and Cutten roads is $141,561, as stated by JLL.

The deal follows Brixmor’s purchase of La Centerra at Cinco Ranch last year. The 409,000-SF Katy lifestyle center was purchased for $223 million.

Brixmor owns 27 properties in the Houston region totaling 3.9 million sq ft. Companywide, Brixmor’s portfolio totals 62 million SF across 344 properties.