HFF, on behalf of the owner, is marketing for sale a former H-E-B anchored shopping center currently being redeveloped into a two-story, 50,967-square-foot, state-of-the-art H-E-B grocery store on Bissonnet Street in the Houston community of Bellaire. H-E-B has occupied this site for more than 20 years and has nearly completed building a new grocery store at its own expense, while continuing to make rental payments during construction, which is expected to be completed at the end of the second quarter of 2018.
The Bellaire Triangle H-E-B is situated on 3.187 acres at 5106-5120 Bissonnet, a major thoroughfare in Houston that connects Bellaire, West University Place and other major residential neighborhoods in Houston, while providing direct access to Loop 610. The City of Bellaire, which is an unincorporated city, occupies the 77401 ZIP code near central Houston and features an average household income of $235,000, the highest in all of Houston.
The retail property for sale is surrounded by a densely populated and affluent customer base in an area that has high barriers-to-entry with strict zoning regulations enforced by the City of Bellaire, which do not apply to the rest of Houston. While several retailers and grocery stores desire having a Bellaire address, feasible retail options are severely constrained. Even on a wider scale, barriers-to-entry within the Loop 610-area are evidenced by a 96-percent current retail occupancy rate and 22.6-percent retail rent growth over the last five years.
For more information on this specific real estate listing or other retail properties for sale, please contact Ryan West or John Indelli in HFF’s Houston office. Click here for our real estate investment sales search page for a current listing of commercial properties available for sale.
Holliday GP Corp. ("HFF") is a Texas licensed real estate broker.