KM Realty acquires two new shopping centers in Katy

KM Realty focuses on acquiring service- oriented and internet-resistant shopping centers.

KM Realty focuses on acquiring service- oriented and internet-resistant shopping centers.

Houston-based KM Realty Investment Trust Inc. has acquired The Shoppes at Cinco Ranch I and II from New York-based Thor Equities, according to a press release.

The Shoppes at Cinco Ranch I is located at 9555 Spring Green Blvd., Katy, and is 92% leased, while the Shoppes at Cinco Ranch II is located at 25230 FM 1093, Katy, and is a value-add acquisition at only 9.5% leased, per the release.

“These acquisitions provide an opportunity for KM to acquire two retail buildings in the strong Katy-Fulshear market at below replacement cost with the ability to achieve above-market returns by leasing the existing vacancy,” KM Realty Managing Principal Randy Keith said in the release.

KM Realty, a private real estate investment trust, has been active in the Katy market for the past eight years, according to the release.

Director of Leasing Steven Stone said KM Realty started with three of their own ground-up shopping center developments along FM 1463 and has recently adopted several other listings in the area.

“With the acquisition of these two properties, [KM Realty] now owns 30 unanchored shopping centers across the Houston, Dallas, Fort Worth, Austin, San Antonio, El Paso and Phoenix markets,” Keith said in the release.

KM Realty was established in 2003 and primarily develops and acquires shopping centers in Houston.


A Harris County administrative judge has ordered county officials to "wholly disregard" an order from Harris County Judge Lina Hidalgo that involved releasing certain nonviolent inmates from the Harris County Jail. (Courtesy Brian Jackson/Adobe Stock)
Judge orders halt to Harris County inmate release

The plan to release certain nonviolent inmates was announced earlier this week to try to prevent a coronavirus outbreak at the Harris County Jail.

Volunteers help Friends of Sundown, a local chapter of Attack on Poverty, pack food from the Houston Food Bank to distribute Katy-area residents on March 25. (Courtesy Friends of Sundown)
GUIDE: 10 ways to help the Katy-area community during the coronavirus outbreak

Supplies and volunteers are running low at several local organizations.

Houston Airport System officials expect March passenger data to be significantly lower than in other months. Foot traffic at IAH was light March 24. (Emily Heineman/Community Impact Newspaper)
TSA limits checkpoints at George Bush Intercontinental Airport; Houston Airport System expects significant decline in March passengers

With low passenger travel amid the coronavirus pandemic, Transportation Security Administration checkpoints at George Bush Intercontinental Airport have been consolidated to make better use of resources and personnel, Houston Airport System officials said.

Peek Road had lane closures while construction crews worked on widening the road this past fall. (Jen Para/Community Impact Newspaper
Peek road widening project in Katy area finishes paving portion

Remaining project items include a final traffic switch to the new lanes.

Prices are more of an indicator of real estate activity during the coronavirus pandemic than location or geography, a local Realtor said.
ROUNDUP: 5 recent coronavirus stories from the South Houston area readers should know

Catch up on some of the latest coronavirus updates for the South Houston area below.

Volunteers unload food donations for the Montgomery County Food Bank. (Courtesy Drive West Communications)
ExxonMobil makes $250,000 donation to local food banks

The energy company said the Houston Food Bank will receive $200,000, including $50,000 in gasoline gift cards. The Montgomery County Food Bank will also receive $50,000.

Over the last decade, Fort Bend County’s population grew from 584,699 to 811,688. (Courtesy Pexels)
Fort Bend County one of fastest-growing counties in Texas, United States last decade

In the last decade, Fort Bend County's population grew by 38.8%, making it the fifth-fastest-growing county in the state by percent growth.

Harris County Judge Lina Hidalgo provided updates on the county's "Stay Home-Work Safe" order at a March 30 press conference. (Screenshot via Harris County)
VIDEO: Texas Tribune interviews Harris County Judge Lina Hidalgo about the coronavirus outbreak’s impact in Houston

The Texas Tribune demographics reporter Alexa Ura interviewed Harris County Judge Lina Hidalgo on April 3.

GiAu Bar n Bites opens in Katy area

However, the restaurant announced March 30 that it will be temporarily closed until April 30 due to the coronavirus pandemic.

The Daikin Texas Technology Park opened in Waller County in 2017. (Shawn Arrajj/Community Impact Newspaper)
Daikin temporarily closes Waller plant after second employee tests positive for COVID-19

Employees will be taking unpaid time off during the closure, but the company said it does not expect to cut any jobs.

The employees of The Adventure Begins Comics, Games & More gather their characters together in "Animal Crossing: New Horizons." (Kate Looney/The Adventure Begins Comics, Games & More)
5 recent business stories from the Houston area readers should know

Read updates on how local businesses are reacting in the wake of the coronavirus pandemic.