Picasso Village

Location: The Woodlands, TX
Type: Retail
Price: $7,300,000

SMC has provided a $7,300,000 ten-year fixed rate mortgage to refinance CMBS existing debt collateralized by Picasso Village, a 90% occupied retail center built in 2005 that is located in The Woodlands, a suburban master-planned bedroom community 30 miles north of downtown Houston. The Subject is highly accessible given that it is within a quarter-mile to the entry/exit ramps of I-45, and the Grand Parkway. The Property benefits from frontage along Sawdust Road, a major north-south commercial corridor serving the submarket with an average traffic count of nearly 45,000 vehicles daily. The Property is located within 5 miles of The Woodlands Mall, a 1.4 million SF super-regional mall featuring tenants including Nordstrom and Apple. Adjacent to The Woodlands Mall is Market Street at Woodlands, a 469,121 SF Class A mixed-use outdoor lifestyle center that is owned and operated by Kimco.