Goodwill LMF

Goodwill LMF

The property is leased to Goodwill Industries of Houston, a Houston-based subsidiary of the Goodwill Industries corporation. The subsidiary has approximately 63 locations throughout the Greater Houston area and employs 1,700+ individuals.

The remaining base term of the ground lease is approximately 14 years and includes 10% rent increases every 5 years during the initial base lease term and the 3, 5-year option periods. The lease is NNN that includes a management fee of 4% of rental income and landlord responsibilities.

Goodwill – Long Meadow Farms is located on the NWC of Grand Parkway and S Mason Rd in Richmond, part of the Houston Metropolitan Statistical Area (MSA). The property is located adjacent to a recently opened Kroger Marketplaceanchored shopping center.

The retail location is situated in a booming submarket where the population is projected to increase by 53.4% from 2010 to 2021 in a 1-mile radius. The average household income is $146,000+ and the median home value exceeds $250,000 in a 1-mile radius. This location is surrounded by 44,000+ households in a 5-mile radius, and is less than 2 miles north of Harvest Green, a 1,300-acre masterplanned community with 2,000+ homes under construction.

Traffic Counts:
GRAND PARKWAY N OF S MASON RD: 28,000 CPD
GRAND PARKWAY S OF S MASON RD: 24,000 CPD
S MASON RD S OF GRAND PARKWAY: 9,000 CPD