This Retail Property is Off-Market.

3442 Palmer Highway
Texas City, TX 77590 ·

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Palmer Plaza Shopping Center

Rental Rate N/A Gross Leasable Area 96,526 SF
Property Type Retail Year Built 1981
Property Sub-type
Neighborhood Center
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  • Retail (Other)
Lot Size 7.73 AC
Listing ID: 15670707 Date Created: 04/18/2008 Last Updated: 02/28/2011

Description

Property Description: Palmer Plaza is a 96,526-square foot neighborhood shopping center located at the northeast quadrant of Palmer Highway (FM 1764) and State Highway 146. Anchor category tenants include a 55,182-square foot former Randalls Grocery (Safeway), (dark, with a lease term through 3/2018), containing a 20,000-square foot Dollar Tree subleased from Randalls. Additional national tenants include a 7,575-square foot EZ Pawn. Palmer Plaza has 12 lease spaces, with approximately 69% of the center' s GLA leased to national and regional credit tenants. The former Randalls space is partitioned into the 20,000-square foot Dollar Tree and a 35,182-square foot bay which remains vacant, but economically occupied via the Randalls lease obligation through March 2018. Amenities/Features: * Key Texas City intersection at Highway 146 and FM 1764 with successful retail base * Safeway guarantee of former grocery space of 55,182 square feet with lease through 3/31/2018 (20,000-square foot sublease to Dollar Tree). * Upside available through increases in rents * No debt; available for new market-rate financing Major Tenant Information Tenancy Type: Multiple R

Palmer Plaza Shopping Center is located approximately 35 miles southeast of Houston's Central Business District (CBD), two miles east of the Mall of the Mainland, in the City of Texas City, Galveston County, Texas. Texas City is home to one of the largest ports in the country, a gateway to worldwide trade and a major hub for world energy supplies. The City of Texas City is 12 miles south of Houston (Clear Lake City) and 13 miles north of Galveston Island. Galveston is home to the University of Texas Medical Branch, Galveston (UTMB) and soon to be the site of one of eight Regional Centers of Excellence (RCE) for Biodefense and Emerging Infectious Diseases Research and one of two National Biocontainment Laboratories (NBL) in the nation.

Highlights

  • Parking Ratio: 5.55

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3442 Palmer Highway, Texas City, TX 77590 (Galveston County)

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