Monday , 24 June 2019
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Large Retail Center Underway at Aliana Master Planned Community in Fort Bend County

HOUSTON – Property Commerce, a Houston development firm led by Jay Williams, has acquired 38 acres on the Grand Parkway near the Aliana master planned community in Fort Bend County.

Aliana, where 426 new homes were sold in 2016, ranks 17th nationally among the top selling communities, according to John Burns Real Estate Consulting.

Property Commerce will develop a 438,000-SF Target-anchored retail center at SH-99 and Harlem Road. It will be the 46th Target store developed by Property Commerce.

Simmi Jaggi and Elizabeth Clampitt of JLL handled the land sale for Aliana Development Co.

“This deal is a milestone in the development of the Aliana master-planned community, and will ultimately create a highly-desirable, modern and amenity-rich shopping center for the surrounding population,” said Simmi Jaggi. “With two outstanding anchors and an additional 57 acres of land planned for retail development, the stage is set for this intersection to become a significant retail destination for both Aliana and southwest Houston.”

The Aliana master-planned community encompasses 2,000 acres 30 miles southwest of downtown Houston.

“The result of years of pent-up demand, Houston’s retail sector has added approximately 18.9 million square feet of retail space in the past five years and sustained high levels of activity throughout 2016,” JLL said. “At year end, Houston’s retail construction pipeline was 3 million square feet and overall retail vacancy was just 5.1 percent.”

March 27, 2017 Realty News Report Copyright 2017

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