9431-9453 Jones Rd
Houston, TX 77065
Jones Square Shopping Center · Retail Property For Sale

Jones Square is a 27,812 square foot neighborhood retail center situated on 3.16 acres at the intersection of Jones Road and West Road in the northwest Houston area called Jersey Village. The center was built in 1984 and renovated in 2004. There are currently a total of seven tenants that occupy approximately 85 percent of the GLA. The weighted average rent in the center is less than $16 per square foot. Jersey Village has approximately 5,512,000 SF retail GLA. Current vacancy in the market is seven percent while asking rents are $18.92 per square foot. All leases are NNN with tenants reimbursing for real estate taxes, insurance and common area expenses. The tenants do not reimburse for management fees although the leases provide for those expenses to be recovered by the landlord. However, the tenants do pay a nominal admin fee. Six of the seven tenants have occupied space in the center since February 2015 and one has expanded. Lease expirations are staggered over the next five years thereby providing an attractive period for renewals to be negotiated. Demographics are strong in the area. Within a one and three mile radius, average household incomes are $77,000 and $90,000 respectively while population in the same areas is 20,000 and 111,000 respectively. Major traffic generators in the area include HEB, Kroger, Aldi, and Food Town, each of which are on different corners of the intersection.