This property is Off-Market

10000 Emmett F. Lowry Expressway
Texas City, TX 77591 ·

80 AC · Land For Sale

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Mall of the Mainland

Price N/A Property Sub-type Retail (land)
Lot Size 80 AC Property Use Type Vacant/Owner-User
Property Type Land Year Built 1991
Listing ID: 17664395 Date Created: 05/16/2012 Last Updated: 01/02/2013

Description

Jones Lang LaSalle, as exclusive representative of the lender, is marketing the 100% fee simple interest in 80 acres of land comprised of 48.44 acres of parking and building improvements, currently operating as Mall of the Mainland, and nine unimproved land parcels totaling 31.55 acres. The property is located on the northeast corner of FM 2004 and Emmett F. Lowry Expressway in Texas City, Galveston County, Texas. Mall of the Mainland is approximately 35 miles southeast of downtown Houston.

The occupancy of the owned portion of the property, including a vacant anchor space, is 33.56% leased. Short
remaining lease term and month to month leases will facilitate vacating the property for partial or total demolition. Two of the remaining three anchors/land parcels are vacant and available for sale through other firms. The remaining operating anchor Sears, is situated on the far west end of the site and will not impact redevelopment of the balance of the site. This offering, in conjunction with the availability of the two other anchor parcels, represents the ability to gain
control of 102 acres of land.

Mall of the Mainland is located approximately 35 miles southeast of Houston' s Central Business District (CBD), 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 is the site of one of eight Regional Centers of Excellence (RCE) for Biodefense and Emerging Infectious Diseases Research and one of two National Bio-containment Laboratories (NBL) in the nation. Galveston is a popular Gulf Coast getaway destination with 32 miles of beaches, restaurants and top resort hotels, attracting over 5 million visitors each year. Galveston has a significant tourist industry with a thriving cruise ship terminal. A significant portion of the Galveston labor base resides in the Clear Lake/Texas City region north of Galveston Island.

Highlights

  • Adaptable or removable improvements on 48.44 acres & 9 unimproved parcels totaling 31.55 acres
  • Abundant parking and drainage infrastructure including ring road
  • Developed mall outparcels improved with motels & restaurants complement redevelopment schemes
  • Mall frontage road, FM 1764, serves as primary entrance from Gulf Freeway to the Texas City commercial corridor & industrial complex
  • Good access from I-45 (Gulf Freeway) as well as Emmett F. Lowery Expressway
  • General commercial zoning permitting a wide range of redevelopment options

Research

10000 Emmett F. Lowry Expressway, Texas City, TX 77591 (Galveston County)

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