JBL Asset Management acquired Montgomery Plaza, a 315,708-square-foot power center located at the corner of Interstate 45 and Loop 336 in Conroe, Texas. The Houston Business Journal reports American National Insurance was the seller. Montgomery Plaza was built in 1981 and renovated in 1993.
The power center is 94.3% occupied and features a lineup of including Academy Sports + Outdoors, O’Reilly’s Auto, Crunch Fitness, Spec’s Liquor, Petco and Dollar Tree. The property also features five multi and single tenant pad sites, providing additional value-creation opportunities and optionality for the new owner.
JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by Ryan West and John Indelli.
This is JBL’s sixth retail center in the Greater Houston area.
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