Pine Ridge Real Estate acquires premier neighborhood strip center in Houston
Pine Ridge Real Estate announced that it has acquired Uptown Plaza, a 28,000-square-foot neighborhood strip retail center located in the prime retail corridor of Houston.
JLL represented the seller in the transaction. Pine Ridge Real Estate acquired the asset in an all-cash transaction. A sales price was not disclosed.
Developed in 2002, the 100 percent-leased Uptown Plaza is currently occupied by CVS, Vision Corner, EG Geller Shoes, Lesley Ann Jewels, Alchemy 43, Fizz Nails and Grotto. The property features an average tenure of more than 12 years and a weighted average remaining lease term of three years.
Located at 4715 Westheimer Road, Uptown Plaza sits at the intersection of Westheimer and Interstate 610 and is surrounded by high-end retail destinations, such as River Oaks District, The Galleria, Highland Village and BLVD Place. The property attracts consumers from Houston’s most affluent residential neighborhoods, including River Oaks, Tanglewood and Mo