Fully Leased H-E-B-Anchored Uptown Retail Center Hits The Block
Tanglewood Court, a fully leased, H-E-B grocery-anchored shopping center serving some of Houston’s most affluent and densely populated neighborhoods — Tanglewood, the Memorial Villages and Briargrove — is up for sale.
Developed by Fidelis Realty Partners in 2014, Tanglewood Court comprises 125.5K SF with a more than 14-year weighted average remaining lease term. The property draws from a daytime population of more than 200,000 residents, employees and visitors. In addition to being surrounded by three of Houston's most affluent neighborhoods, with home prices ranging from $1M to $15M, Tanglewood Court is within a 1-mile radius of more than 9,000 apartment units. The demographics have pushed the H-E-B to be one of the grocer's top-performing locations in Houston.
The in-line tenants are heavily represented by restaurants, health-related businesses and other service-related tenants. More than 95% of the net rentable area does not face the risk of e-commerce, according to HFF's Rusty Tamlyn, Ryan West and John Indelli, who are marketing the property.