HFF closes sale of north Houston retail center
HOUSTON, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Pines of Louetta North, a 71,090-square-foot retail strip center in northern Houston.
HFF arranged the sale of the property on behalf of the seller, Pines of Louetta North, L.P.
Built in stages from 2009 to 2014, Pines of Louetta North is comprised of three buildings that are 92 percent leased to national and regional tenants including Spec's Wine, Spirits & Finer Foods, Dickey's Barbecue Pit, Chipotle Mexican Grill, Schlotzsky’s and Salata. Located at 1600-1620 Louetta Road, the property is just west of Interstate 45, a main artery in Houston with daily traffic counts exceeding 255,000 vehicles. The property is 26 miles north of downtown Houston.
The HFF investment sales team representing the seller was led by managing director Ryan West, associate director Matt Berry and real estate analyst Robbie Kilcrease.
“We had numerous offers within days of being in the market and were able to quickly come to terms with a great buyer who closed all cash ahead of schedule,” West said. “The interest level we had in this asset is indicative of the strong overall Houston retail sector.”
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a Texas licensed real estate broker.