Summary

The Williams Trace Shopping Center is a 261,925 sf shopping center, developed in two phases from 1983 to 1985. Phase I features anchor tenants Randalls Flagship Grocery Store, PETCO, Walgreens, and Washington Mutual.  Phase II tenants include Palais Royal, Dollar Tree and Jo Ann Fabrics. In general, the property has been well maintained by its current owner.  It has been 95% leased for the past 10 years and is projected to maintain a strong level of occupancy thereby securing a stable cash flow.  The project currently has sixty-six tenants, providing a significant degree of stability and diversity to the property’s revenues.

The property is located in the city of Sugar Land in the southwestern part of the Houston Metropolitan area.  Unlike most parts of Houston, Sugar Land has tightly defined zoning and land use controls.  It is primarily a residential community featuring a mix of single family homes ranging in size from 2,000 to 10,000 square feet.  The primary reason for Sugar Land’s success is due to the efforts of the world renowned developer Gerald Hines.  His firm, using the name First Colony, developed Sugar Land to reflect the highest architectural and land planning standards.