JLL Capital Markets Closes Retail Real Estate Sale of 315,708 SF Montgomery Plaza Power Center in Conroe, TX
JLL has arranged the sale of Montgomery Plaza, a 315,708-square-foot retail power center located at the hard corner of Interstate 45 and Loop 336 in Conroe, Texas, the firm announced March 9, 2026. The buyer was JBL Asset Management, a South Florida-based retail shopping center specialist. The seller was not disclosed. Financial terms of the transaction were not disclosed.
Property Overview and Retail Real Estate Tenancy
Montgomery Plaza is 94.3% occupied and features a lineup of national, e-commerce-resistant tenants, including Academy Sports + Outdoors, O'Reilly Auto Parts, Crunch Fitness, Spec's Liquor, Petco, and Dollar Tree. The center attracts more than 2.2 million annual visits and ranks in the top 80% of shopping centers across Texas, according to JLL.
In addition to its inline retail spaces, the property includes five multi- and single-tenant pad sites, which JLL noted provide value-creation opportunities and additional optionality for the new owner.
Transaction Details
JLL Capital Markets' Investment Sales and Advisory team represented the seller. The team was led by Senior Managing Director Ryan West and Senior Director John Indelli. No sale price, cap rate, or price-per-square-foot figures were released in connection with the transaction.
"Montgomery Plaza represented an exceptional opportunity to acquire an established power center with strong national tenancy in one of Texas' fastest-growing markets," West said in a statement. "The property's prime location at the intersection of two major thoroughfares, combined with Conroe's outstanding demographic growth, made it highly attractive to investors."
About the Buyer: JBL Asset Management
JBL Asset Management is a privately held commercial real estate company founded in 2005 by Jacob Khotoveli and headquartered in South Florida. The firm specializes in retail shopping center acquisitions, management, and development, investing private capital on behalf of itself and its investment partners across major metropolitan areas in the eastern United States. JBL's portfolio currently exceeds four million square feet.
Conroe Market Context
Conroe is located in the North Houston market. JLL described it as one of the Houston area's fastest-growing submarkets. The property's high occupancy rate and tenant mix — oriented toward service, fitness, sporting goods, and specialty retail categories that JLL characterized as e-commerce resistant — were cited by the firm as key factors in investor interest. The five pad sites also offer leasing upside for JBL following the close of the transaction.
JLL Capital Markets operates as a full-service global provider of capital solutions for real estate investors and occupiers, with more than 3,000 specialists in offices across nearly 50 countries. The firm's parent company, JLL (NYSE: JLL), reported annual revenue of $26.1 billion as of December 31, 2025, and operates in more than 80 countries.