1031 Exchange TIC Property: Price Plaza Katy (Houston), Texas

Credit-Tenant-Anchored Retail Power Center

Minimum TIC Investment $700,000

Located at 20200 Katy Freeway, Katy, Texas 77450, Price Place is a 205,818 square foot retail power center located in Katy, Texas; a high growth suburb located approximately 25 miles west of downtown Houston. Price Plaza Shopping Center is anchored by a prominent lineup of national retailers including Best Buy, Babies’ R Us, Ross Dress for Less, Linens N Things and Party City. Separately owned anchors include Super Wal-Mart, Sam’s Club and Home Depot.

Trade area demographics reveal an exceptional dense and affluent market that demand the shopping experience Price Plaza satisfies. Demographically, within a 5-mile radius the population consists of 138,289 residents possessing an average household income of $101,330.

Price Plaza benefits from its strategic location at the intersection of Interstate 10 (Katy Freeway) and Fry Road in the heart of Katy’s retail corridor. Additional area retailers include Target, HEB Grocers, Kroger, Kohl’s, Petsmart, Office Max, TJ Maxx and many other national tenants.

• $37,620,000 acquisition price
• $15,888,600 equity investment
• 6.12% CAP rate
• 6.06% year one cash-on-cash yield (pro forma)
• Built in 1999 – 2001
• Total Leasable Square Feet – 205,818
• 100% occupancy (as of 8/17/05)
• Anchored by Best Buy, Babies “R” Us, Linens ‘n Things, Ross Dress for Less and Party City
• Excellent Location along Interstate 10 and Fry Road generates 194,000 vehicles by the property each day
• Over 90% of the property’s square footage is leased by nationally recognized tenants

Contact me for further details and/or property photos.