CBRE brokers retail center sale in Katy, Texas

KATY, Texas —CBRE’s National Retail Investment Group has closed on the sale of Highland Knolls Shopping Center in Katy, Texas, to Revesco Properties. The 87,469-sq.-ft. grocery-anchored shopping center is 94.6% occupied.

A 62,389-sq.-ft. Randall’s has anchored the center since it opened in 1999 and has 11 years remaining on its lease. Randall’s represents 71% of the property’s total gross leasable area for a 70:30 anchor-to-shop space ratio.