A retail plaza sitting directly across from the Heights' new H‑E‑B is changing hands after what sounds like a mini bidding war. New York–based REIT Curbline Properties has scooped up the 24th Street Market at 2400 N. Shepherd Drive following multiple full‑price offers, according to reporting. The transaction, for an undisclosed amount, underscores how hungry investors still are for grocery‑adjacent neighborhood retail in the Heights.
As reported by Houston Business Journal, Curbline Properties paid an undisclosed amount to acquire the 24th Street Market development at 2400 N. Shepherd Drive. The article notes that the seller fielded multiple full‑price offers during marketing, with Curbline ultimately winning out.
Buyer and strategy
Curbline is a New York‑based real estate investment trust that focuses on curbline convenience and small shopping centers. In a June investor update, the company said it had closed dozens of convenience‑center acquisitions this year and leaned on ATM and other capital‑markets activity to fuel that buying spree. That playbook helps explain the firm’s interest in grocery‑shadowed sites, where daily foot traffic tends to do a lot of the heavy lifting. Curbline Properties outlines its recent acquisition pace and capital strategy.
About 24th Street Market
The center is a single‑story, roughly 5,950‑square‑foot property that was renovated in 2016 and sits on the northeast corner of N. Shepherd Drive and 24th Street. Marketing materials pitch the site as “H‑E‑B shadow‑anchored,” sitting directly across from the neighborhood H‑E‑B and fully leased to a mix of local and national tenants. Those property details appear in commercial listings and marketing materials for the site, which highlight the center’s spot along a busy Heights retail corridor. LoopNet provides the listing description and site details.
Deal details and listing history
While the purchase price has not been publicly disclosed, a broker listing on Crexi showed a $4,437,000 asking price and recent for‑sale activity ahead of the transaction. The Houston Business Journal report says the seller selected Curbline from multiple full‑price offers amid competitive interest in the small strip center.
What this means for tenants and neighbors
The acquisition lines up neatly with Curbline’s stated focus on grocery‑adjacent, curbline retail assets and their typically steady leasing economics, suggesting the buyer will lean on the center’s existing tenancy rather than rush into any major redevelopment. Curbline’s investor materials stress leasing and portfolio expansion as the firm’s near‑term priorities, though the company has not publicly detailed any specific operational changes for the Heights site. Curbline Properties explains that strategy in greater detail.
The sale adds another national owner to the Heights retail mix and offers one more data point on investor appetite for well‑located, grocery‑anchored neighborhood retail. We will update this story if Curbline, the broker, or city records disclose additional terms or plans for the property.
