The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
June 20, 2024
 Search RENTV
   Go!
 The REview
 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
Single-Tenant Kohl’s Store in Texas Gets new Owner for $14.6 Mil

9/26/23

A 55k sf, single-tenant retail property occupied by Kohl’s in Katy, TX was acquired by an out-of-state 1031 exchange buyer for $14.65 mil ($266/sf). The property, located at 25735 Nelson Way, was sold prior to completion of construction.

Situated on a 5.18-acre parcel, the store is set to open soon. It is 30 minutes from downtown Houston and is supported by more than 243,000 residents and 56,000 daytime employees within a five-mile radius. It is located off Interstate 10, State Highway 99 and U.S. Highway 90 and is within walking distance to Katy Mills, a 1.655 msf super-regional mall.

Matthew Mousavi and Patrick Luther with SRS Capital Markets represented the buyer and the seller, an institutional development company. SRS also advised the buyer on securing the loan provided by a regional credit union. The closing cap rate was 6.73%.

“This asset closed escrow prior to certificate of occupancy and the tenant opening for business,” said Luther. “The buyer was attracted to the quality of the new construction real estate and 12-year absolute triple net lease in place with Kohl’s.”

“SRS received a considerable amount of interest in this big box asset as it provided a passive income with limited landlord responsibilities in an income tax-free state,” added Mousavi.





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 © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media