Katy retail center sells in master-planned community

HOUSTON, May 15, 2026 –  JLL Capital Markets announced today that it has arranged the sale of Firethorne Plaza, a strip retail center located at the gateway to one of Katy's most sought-after master-planned communities.

JLL represented the seller. The buyer was Phillips Edison & Company (NASDAQ: PECO).

Firethorne Plaza is positioned at 2731 FM 1463 at the entrance to the Firethorne master-planned community. This prime location offers high visibility along a major north-south thoroughfare currently undergoing expansion from two to six lanes to accommodate robust traffic growth in the rapidly developing area.

The 29,986-square-foot retail center is 100% leased and includes 14 tenants with a strong mix of national, regional and local operators. National tenants include Edward Jones, Pizza Hut, Tide Cleaners and Eye Level Learning. The property features significant lease rollover opportunity with nine of 14 tenants rolling to market or holding fair market value renewal options within the next five years.

JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Senior Managing Director Ryan West and Senior Director John Indelli.

"Firethorne Plaza represented an exceptional opportunity to acquire a well-located retail asset with meaningful value-add potential in one of Houston's strongest growth corridors," said West. "The property's proximity to affluent residential development, combined with the upcoming FM 1463 expansion, positions it favorably for the years ahead."

"We are pleased to have facilitated this transaction for PECO as they continue to expand their retail portfolio," added Indelli. "With average household incomes exceeding $218,000 within one mile and strong population growth projected through 2030, Firethorne Plaza offers an excellent platform for long-term value creation."

“We are excited to add Firethorne Plaza to our portfolio as a strong fit for our Everyday Retail strategy, said Ryan Mitzel, VP of Acquisitions at Phillips Edison & Company. “It’s in a high‑growth market with solid household incomes and density, and it has the kind of durable fundamentals we value in grocery‑anchored neighborhood centers. Assets like this allow us to serve communities day in and day out while supporting long‑term performance.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom.

JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of March 31, 2025. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

Phillips Edison & Company, Inc. (“PECO”) is one of the nation’s largest owners and operators of high-quality, grocery-anchored neighborhood shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers. PECO’s centers feature a mix of national and regional retailers providing necessity-based goods and services in fundamentally strong markets throughout the United States. PECO’s top grocery anchors include Kroger, Publix, Albertsons and Ahold Delhaize. As of March 31, 2026, PECO managed 326 shopping centers, including 299 wholly-owned centers comprising 33.7 million square feet across 31 states and 27 shopping centers owned in three institutional joint ventures. PECO is focused on creating great omni-channel, grocery-anchored shopping experiences and improving communities, one neighborhood shopping center at a time.