The population in Katy has increased by 60%, and the average household income exceeds $80,000 per year, which made the city a winning candidate for a new retail project, according to the release.
The planned 14,000-square-foot, owner-occupied project will be located at Katy's highly-trafficked intersection of Morton Ranch Road and the Grand Parkway, per the release.
"It's an intersection with dense retail, new business and strong growth of all kinds," said Josh Friedlander, vice president of NewQuest Properties, who, alongside his colleague, Rebecca Le, represented the seller, per the release.
Clay Trozzo of Property Commerce was the buyer's broker for the acquisition.
A new Starbucks will be next to the acquired land, which will also be across the freeway from another NewQuest Properties retail project: the Grand Morton Town Center.
The first tenant for the new project is First Community Credit Union, per the release.
Billiard Factory is a Houston-based, family-owned business and has 10 stores across Texas, Florida and Nevada. The upcoming Katy showroom will be the fifth in the Greater Houston area.
"It's always good to see new retail business come to a community," Friedlander said. "Hopefully, Katy will be excited about the Billiard Factory and will support it."
Community Impact Newspaper reached out for the project timeline but has not yet received a response.
