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September 23, 2023
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Texas Strip Center Property Picked Up by Exchange Investor


An eight-tenant medical and retail strip center in Magnolia, TX traded hands. The 16.7k sf property, located at 827 Magnolia Blvd, is fully leased to a diverse mix of strong medical and service-oriented tenants, including Hillwood Family Dental Group, Simple Traditions Family Health, Hanigan & Johnson Orthodontics, and Endodontics of Houston.

The facility was built in 2012 and is situated on 7.66 acres in the city of Magnolia, an outdoor paradise of biking, hiking, golf, and more approximately 45 miles northwest of Houston. Just across the street from the property is a proposed Magnolia Ridge Development which will bring over 200 homes to one of the best public-school districts in Texas. With excellent visibility and multiple access points, Magnolia Health and Wellness Center boasts prime frontage on Magnolia Boulevard, seeing over 14,000 vehicles per day.

Riley Sharman with Northmarq represented the seller, a local owner. A 1031 exchange buyer based in Dallas-Fort Worth, Texas acquired the asset in an all-cash deal. The price was not disclosed.

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