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Wu Investments Acquires Retail Center in Northwest Houston

HOUSTON – Wu Investments, a Houston-based retail developer, has acquired Eldridge Lakes Town Center, a 36,000-SF retail center in northwest Houston at 6350 North Eldridge Parkway. The seller was Edifis Group.

Wu is currently developing three retail properties in Houston. Its portfolio includes retail properties in Texas and Ohio.

The Eldridge center, located 21 miles northwest of downtown Houston, is 93 percent leased. The seller was represented by Ryan West and John Indelli of HFF.

Constructed in 2003, the center is home to State Farm, Subway, Metro PCS, Liquor & Liquors, Little Caesar’s Pizza, Sport Chiropractic, Spectrum Eye Care, True Care Dental and TGF Haircutters.

Situated on 4.32 acres at the northwest corner of North Eldridge Parkway and West Little York Road, the property is seen by approximately 70,000 vehicles a day, making the intersection one of northwest Houston’s busiest locations.  More than 89,873 residents earning an average annual household income of $102,091 live within three-miles of Eldridge Lakes Town Center.

The buyer’s financing – a seven-year, fixed-rate loan with First Community Credit Union – was arranged by Michael Johnson of HFF.

Nov. 20, 2017 Realty News Report Copyright 2017

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