Parkway Shops – Offering Memorandum
NewQuest Properties is pleased to present the opportunity to acquire a fully-leased, stabilized shopping center located at the signalized intersection of SH 249 and Alice Road in Tomball, Texas. Tomball is one of northwest Houston’s fastest growing suburban markets, seeing 46% historic annual growth since 2010. The development is located on Alice Road, between the recently opened Tomball Tollway and the mature retail corridor of SH 249 Business Road, surrounded by established and future retail developments. National tenants at the intersection include Walmart, Hobby Lobby, Palais Royal, BigLots!, Planet Fitness, Wells Fargo and Sherwin Williams. Directly across Alice Road is a future grocery-anchored development, currently under construction. Parkway Shops sits less than two miles from the Grand Parkway, and ½ mile from Tomball Regional Medical Center.
Purchase Price: $4,320,000.00 | 6.25% Cap Rate