CenterSquare announced March 27 the acquisition of The Shops at Cinco Ranch, a 27,500 square foot Essential Service Retail (ESR) shopping center in the affluent Cinco Ranch neighborhood of Katy, in the Houston MSA, where average incomes exceed $155.000. Cinco Ranch has seen its population double since 2010 and is consistently ranked as a top-five neighborhood to live in the nation, the company said in a press release.

The Shops at Cinco Ranch is 96% leased and is home to a wide array of local, service-oriented tenants catering to the surrounding 34,000 rooftops in a three-mile radius of the center’s location at 27131 Cinco Ranch Blvd. in Katy. This is CenterSquare’s fifth retail acquisition in Houston.