The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
December 15, 2017
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



ETC... ETC...
Printer-friendly Version   Email an Associate
Multi-Tenant Retail Asset in Katy, TX Fetches $547/sf

4/18/17

A newly developed, 8.5k sf multi-tenant retail property within Grand Crossing, a mixed-use development in Katy, TX, has sold for $4.65 mil, or $547/sf. Built in 2016, the property is situated on two acres of land at 23641 Katy Fwy in an area that has seen a nearly 11 percent growth in population over the last five years.

The fully occupied asset includes Sleep Number, Carus Dental and Lux Nail Salon, which are on long-term leases. The asset fronts Costco at the I-10 and Highway 99 interchange, and is within the 125-acre Grand Crossing development project which, upon completion, will include multi-family, office, and retail uses in a walkable environment.

Jeff Conover with Faris Lee Investments represented the buyer, Los Angeles-based Caswell Development LLC, who was completing the upleg of a 1031 exchange. The seller was the developer of the property, Edifice GC Katy, TX. The closing cap rate on the transaction was 7.12%.





Return to the Archive page
 
 


 
 
 





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2017 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media