Henry S. Miller Cos. Announces the Sale of Williams Trace Shopping Center
HOUSTON – December 29, 2014 — Henry S. Miller Companies announced today the sale of Williams Trace Shopping Center, a 262,213-square-foot, double grocery-anchored retail center in the southwest Houston suburb of Sugar Land, Texas.
Williams Trace Shopping Center is situated on 26.479 acres at 2200-2400 State Highway 6 at the southeast corner of Williams Trace Boulevard and Highway 6 in Sugar Land. The property’s location offers easy access from Highway 59 and is near to the 800,000-square-foot mixed-use Sugar Land Town Square development. Williams Trace Shopping Center is 90.2 percent leased to Randalls, 99 Ranch Market, Petco, Dollar Tree, Luby’s, Walgreens, GNC, Los Tios Mexican, Design Source, China King and State Farm.
The seller was a partnership formed by Henry S. Miller Companies and Dome Equities, LLC. HFF arranged the sale of the property to an undisclosed buyer for an undisclosed price free and clear of existing debt.
“The shopping center is divided into two distinct phases, separated by another property. Phase 1 is anchored by Randalls and, at the time we purchased the center in 2005, Phase 2 was anchored by Palais Royal. However, Palais Royal subsequently vacated. Shawn Ackerman, who runs our Houston office, quickly leased the 30,000 square foot space to 99 Ranch Market, an Asian grocery store. This lease was critical to the success of our investment in the property.” said Greg Miller, CEO/President of Henry S. Miller Companies.
The Henry S. Miller investment sales team was led by CEO Greg Miller, SVP Chance Johnson and SVP John Downs. The HFF investment sales team was led by senior managing director Rusty Tamlyn, managing director Ryan West, associate director Matt Berry and real estate analyst Robbie Kilcrease.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com.