HOUSTON – Kimco Realty, based in New York, purchased the Atascocita Commons shopping center in northeast Houston from Cole Real Estate Investments.
The 316,395-SF center power center is near the northwest corner of FM 1960, North Lake Houston Parkway and Atascocita Road. At the time of sale, the center was 99.2 percent leased to leading retailers such as Ross, Kohl’s, TJ Maxx, HomeGoods, Party City, Office Depot and Petco.
“Atascocita Commons is truly a market dominant shopping center and fits with Kimco Realty’s strategy of owning best-in-class retail in major markets,” said CBRE Senior Vice President Chris Cozby.
The property is located at 7061 FM 1960 East and is surrounded by an affluent, high-growth area in northeast Houston with access to some of the city’s fastest growing master-planned communities. The area also serves as the dominant retail intersection in northeast Houston, providing the property with exposure to over 90,000 vehicles per day and access to a broad trade area extending to the north and northeast.
Along with Cozby, CBRE First Vice President Chris Gerard, based in Dallas, and Vice President Kevin Holland, based in Houston, represented the Phoenix-based seller.