Fiesta Anchored Center Sold to Wu

HOUSTON – (Realty News Report) – Willowchase Center, a large retail center anchored by a Fiesta store, has been acquired by Wu Properties, a Houston firm led by Steve Wu.

The 231,000-SF retail center, 12972 Willowchase Drive, is located in Northwest Houston, near Texas 249 and FM 1960.

JLL’s Ryan West, Chris Gerard, John Indelli, Katherine Miller, Bailey Black and Grant Rexrode worked on behalf of the seller, Fidelis Realty of Bellaire.

The center, which sits on 19.5 acres, is 97 percent occupied.

NAI Partners’ Jason Gaines will provide landlord representation services on behalf of the Wu organization.

Un Cachito de lo Nuestro’ —  A little bit of ours.”

Fiesta, part of the Bodega Latina Corp., has 60 stores across the Lone Star State. The Willowchase Fiesta is the eighth most trafficked Fiesta out of the entire chain.

Fiesta has been operating since 1972. “By setting the standard with specialty products from all over the world, Fiesta Mart has all your needs for your family and for your home, all while bringing our customers ‘un cachito de lo nuestro’ ”.Translation: “a little bit of ours.”

The shopping center center is also home to a diverse tenant lineup that includes dd’s Discounts, Jo Ann Fabrics and Crafts, Goodwill, Northern Tool and Equipment, Mattress Firm, Family Dollar, America’s Best, Jamboree Dentistry and Metro PCS.

“Demand for retail assets throughout Texas is growing steadily, which highlights the conviction and strong fundamentals in the retail sector,” Indelli said. “We’re seeing an abundance of capital chasing retail deals, and there simply isn’t enough product to fulfill investor’s appetite.”

Adjacent to the Willowchase center, a non-owned Rooms to Go store is a “shadow anchor” for the center.

“With Houston’s retail market starting off the year strong with the highest January leasing activity on record, we are confident that our purchase of Willowchase Center will prove to be a fantastic investment,” said Steve Wu of Wu Property Management. “Having worked with NAI Partners and Jason Gaines on our other retail properties in the Houston area, we are confident we will attract fantastic future tenants that will enhance the already-great tenancy at Willowchase Center.”

March 14, 2022 Realty News Report Copyright 2022

LISTEN – THE RALPH BIVINS PROJECT podcast with Michael Scheurich, CEO of Arch-Con Corp.

Photo courtesy JLL

File: Fiesta Anchored Center Sold to Wu

File: Fidelis. Steve Wu. Fiesta Anchored Center Sold. Jason Gaines

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