Crossing at Telfair - Reserve C — Sale in Sugar Land, TX

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Sugar Land, TX 77478
  • Year built: 2018

Photos

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Investment Figures

Cap rate
7.00%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to exclusively offer for sale Crossing at Telfair - Reserve C, an H-E-B grocery shadow-anchored shopping center. The subject property has 33,661 square feet of leasable area on 5.57 acres of land, located at 350 Promenade Way, Sugar Land, Texas. Crossing at Telfair – Reserve C is offered for sale at a price of $14,741,000, which is a value of $438 per square foot to the building and a 7 percent day one cap rate. The subject property benefits from a top-performing H-E-B supermarket that sees three million visits per year and ranks in the top thirteen percent of H-E-B stores nationwide, according to Placer AI. The property was built in 2018, prior to the run-up in cost of construction, so rental rates in the shopping center are below market rents for new construction of $35 per square foot plus triple-nets. In addition to being situated off Highway 6 and Highway 90, two of Sugar Land’s most trafficked thoroughfares, the subject property and its tenants benefit from a population of approximately 95,000 residents with average household income of $105,000 within three miles of the property. Investment Highlights: • Shadow-Anchored to a Top-Performing H-E-B Supermarket: Three Million Annual Visits • Priced Below Replacement Cost: $438 Per Square Foot • Attractive Seven Percent Day One Cap Rate • Below Market Rents for Class A New Construction Retail • Desirable Co-Tenants Including Pet Supplies Plus, Wingstop, Hotworx, Sugarland Veterinary Clinic, Southwest Urgent Care, Hertz Rent-A-Car, multiple local restaurants, and more.

Market Context

This retail in Sugar Land, TX is listed for sale. It is offered at an approximate 7.0% capitalization rate, a key benchmark for income-producing retail assets. The building dates to 2018. Compare it against other retail listings for sale in Sugar Land, TX — view the full market.

As of Q1 2026, the Houston retail market showed a 5.5% vacancy rate, average asking rents near $21.28/SF/yr, rents up 2.5% year over year, and cap rates around 7.5%. Source: multiple brokerage reports, Q1 2026.

Its 7.0% asking cap rate is below the Houston retail market average of about 7.5%, reflecting premium pricing relative to comparable assets. Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Retail market FAQ

What is the typical cap rate for retail in Houston?
About 7.5% as of Q1 2026, per multiple brokerage reports.
Is the Houston retail market tightening or softening?
Vacancy is around 5.5%, with asking rents rising year over year (Q1 2026).

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