(HOUSTON, TX) – Rycore Capital sold a ~24,000 sf multi-tenant retail shopping center strategically located at 6630 FM 1463 in Fulshear, TX, situated in one of the fastest-growing submarkets in the Houston metro area across the street from a Walmart anchored center including Chick-Fil-A, Ulta, Raising Cane’s, Whataburger, TJ Maxx, Ross, and several other key national retailers. The center benefits from its position on FM-1463, a key north-south corridor connecting I-10 to FM-1093, in an area experiencing rapid residential growth.
Shops at Cross Creek, a fully leased retail center built in 2015, boasts a diverse mix of both local favorites and nationally recognized tenants. The property is anchored by Yen Fulshear, Rightway Dental, Marvelous Clinic, Firehouse Subs and Avis Budget Car, creating a well-rounded tenant roster that caters to various customer needs.
Fulshear, located within the dynamic Katy submarket of West Houston, has undergone rapid expansion in recent years, establishing itself as one of the Houston metropolitan area’s fastest developing regions. The area ranks #1 in annual new home starts in the Houston region, with 6,537 starts in 2023 – an 11.2% increase from the previous year. This rapid expansion is driven by the development of numerous master-planned communities, attracting affluent residents with average household incomes of $183,560 within a three-mile radius.
“The sale of Shops at Cross Creek demonstrates the strong investor appetite for well-located retail assets in high-growth suburban markets. We are very pleased to have gone full cycle on this retail asset, creating an attractive return for a long-standing advisory client”, said Drew Zahora, Senior Director of Investments & Asset Management.
About Rycore Capital LP
Rycore Capital LP (the “Firm”) is a Houston-based real estate investment manager with approximately $413 million AUM, focused on acquiring, leasing and managing income producing properties that deliver superior real estate solutions to our tenants while providing our investment partners with some of the most consistent value-add, core-plus and core returns. The Firm offers two investment platforms to investors: Fund Management and Direct Investment Advisory. The Firm aims to provide a solution with its institutional quality real estate investment management process to high net worth, family office and institutional investors. For more information regarding Rycore, visit the Company’s website at www.rycorecapital.com.