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Investment Highlights
- Newly constructed retail center located in a 125-acre master-planned community anchored by two new college campuses.
- Purposefully developed off I-10 in a densely populated retail hub, situated 30 minutes West of Downtown Houston.
- The community is heavily influenced by Asian-inspired restaurants and eateries and nationally acclaimed retailers, including JCPenney and Sephora.
- The location benefits from heavy daytime foot traffic from the newly built Houston Community College and the University of Houston.
- 4 High-Visibility Retail Units with Fully Lease, the expected annual base rent is from $292K, Avg.Annual Escalation:2.5%+
- The surrounding area benefits from an average household income of $117,895 and a total consumer spending of $3.4 billion in a five-mile radius.
Executive Summary
KAT Elite Center, located at 23015 Colonial Parkway, is purposefully developed in the 125-acre University Center, an expansive, all-encompassing, mixed-use campus featuring office, medical, retail, residential, and educational facilities. The property is situated in a premier, highly sought-after destination location in the Houston market. Positioned at the northeast corner of I-10 and Grand Parkway 99, KAT Elite Center boasts unrivaled visibility, walkability, and regional access. The property is accessible to over 35,000 vehicles traveling along Grand Parkway and over 144,000 vehicles per day traveling along I-10, providing passengers with direct entrance to a unique theme center. The campus’ robust tenant roster is centered around the Asian culture bolstered by diverse and authentic national, regional, and local retailers. 23015 Colonial Parkway is ideally located between the new college campuses supporting excellent foot traffic in front of the storefronts. The University of Houston-Victoria at Katy Campus opened in 2019 and has nearly 5,000 students enrolled. Houston Community College Campus is scheduled to open its new location at University Center in Spring 2022 with an anticipated enrollment of 2,000 students in the first year. Nearby destinations, including the Texas Medical Center (West Campus) and Katy Mills Mall, are just a 10-minute drive, the Premium Outlet is a 16-minute drive, and the George Bush Intercontinental Airport is a 42-minute drive. With easy accessibility and astronomical commercial growth in the area, this new retail section of KAT Elite Center shall continue the sphere of influence and promising businesses within the University Center. Katy is the ideal market for retail users, establishing itself as one of the fastest-growing cities in the country with a population growth of 53.9% over the last decade, over eight times the national average of 6.3%.
Property Facts
Unit Size | 5,987 SF | Building Class | B |
No. Units | 1 | Floors | 1 |
Total Building Size | 22,742 SF | Typical Floor Size | 22,742 SF |
Property Type | Retail (Condo) | Year Built | 2021 |
Property Subtype | Storefront Retail/Office | Lot Size | 0.80 AC |
Sale Type | Investment | Parking Ratio | 6.32/1,000 SF |
Unit Size | 5,987 SF |
No. Units | 1 |
Total Building Size | 22,742 SF |
Property Type | Retail (Condo) |
Property Subtype | Storefront Retail/Office |
Sale Type | Investment |
Building Class | B |
Floors | 1 |
Typical Floor Size | 22,742 SF |
Year Built | 2021 |
Lot Size | 0.80 AC |
Parking Ratio | 6.32/1,000 SF |
1 Unit Available
Unit .
Unit Size | 5,987 SF | Sale Type | Investment |
Condo Use | Retail |
Unit Size | 5,987 SF |
Condo Use | Retail |
Sale Type | Investment |
Sale Notes
Can be purchased with other units.
DEMOGRAPHICS
Demographics
Amenities
- 24 Hour Access
- Property Manager on Site
- Restaurant
- Security System
- Tenant Controlled HVAC
- Air Conditioning
Nearby Major Retailers
Presented by
23015 Colonial Pky - Katy Asian Town III- Building A
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