The Villagio at Cinco Ranch lifestyle center changes hands

Houston --Marcus & Millichap announced the sale of The Villagio at Cinco Ranch, an 111,963-sq.-ft. lifestyle shopping center in Katy, Texas. The asset had a list price of $31,290,000; however, the terms of the sale of were not released.



Derek Hargrove, senior associate, and Justin Miller, vice president investments, had the exclusive listing to market the property on behalf of the seller, The Marcel Group.



“At the time of the sale, The Villagio at Cinco Ranch was 89% occupied,” said Miller. Built in 2007 on almost eight acres, the property is located at 22764 Westheimer Parkway. Tenants include Italian restaurant 3 Olives, The Public House, Charter Title Company, Steeplechase Pediatric Center, Keller Williams and De Vero Salon & Day Spa.