Florida-Based Investor Buys Montgomery County Retail Center
JBL Asset Management bought Montgomery Plaza, a 316K SF retail center at the corner of Interstate 45 and Loop 336 in Conroe, as the rate of Houston retail investment sales picks up.
Montgomery Plaza is 94% occupied by national tenants, including Academy Sports + Outdoors, O’Reilly Auto Parts, Crunch Fitness, Spec's Wine, Spirits & Finer Foods, Petco and Dollar Tree.
"Montgomery Plaza represented an exceptional opportunity to acquire an established power center with strong national tenancy in one of Texas' fastest-growing markets," said Ryan West, senior managing director for JLL Capital Markets, in a statement. He and John Indelli represented the unnamed seller of the center.
Hollywood, Florida-based JBL Asset Management owns and operates 4.7M SF of assets, primarily retail in Florida, Texas and Georgia, according to its website.
Montgomery Plaza, at 1408 N. Loop 336 W., has five vacant suites ranging from 1,325 SF to 11.3K SF. The latter is occasionally occupied by Spirit Halloween, according to the website.
JBL’s acquisition is the second large Houston-area retail trade within a week. Fidelis Realty Partners bought Baybrook Village, a 279K SF shopping center in Webster, from O’Connor Capital Partners/Wafra, CBRE announced Friday.
That retail center has tenants including Ross Dress for Less and Chuck E. Cheese and newly executed leases with Havertys Furniture, PGA Tour Superstore, Burlington and Cava.
Houston’s annual retail investment sales volume spiked to $2.7B in 2025, a significant uptick from the last two years that saw volumes below $1.5B, according to JLL’s Texas Retail Outlook 2026 report.
Houston saw seven $100M-plus transactions in 2025. Over the past five years, no more than three such deals have traded annually, per JLL.
Houston’s retail market occupancy hasn’t dipped below 90% since 2013, its longest-ever high-occupancy streak. The market ended 2025 with 95.2% occupancy as limited new supply kept demand in lockstep.
