In back-to-back closings, NewQuest Properties' investment sales team has completed five commercial property sales in Texas and one in Florida.
"We continue to see strong buyer interest for net-leased investments due to aggressive 1031 exchange capital and investors looking to take advantage of low interest rates," says David Luther, executive vice president of NewQuest's investment sales, who partners with Kelley Workman, vice president. "We also have seen some re-pricing with larger, shopping centers like Norchester that have made these deals more appealing."
The just-closed transactions are:
CF Investments LLC has purchased a 108,740-sf restaurant on 10.91 acres at 10966
Grant Rd., Houston, from WP Norchester LP. Luther represented the buyer.
Westside Management LLC has purchased a 14,476-sf Davita Dialysis at 12606
Westpark Dr., Houston, from NewQuest Properties. Workman represented the buyer
and Luther, the seller.
Jack in the Box LLC has purchased a 2,340-sf restaurant on 0.64 acres at 5715 Bellfort
St., Houston, from Griggs Corp. Luther and Workman arranged the sale.
S.C.P. LLC has purchased a 1,532-sf Zip Car Wash on 0.94 acres at 1801 Palm Ave.,
Miramar, Fla., from STORE Capital Acquisitions LLC. Luther represented the buyer.
MB Property Management LLC has purchased a 9,412-sf freestanding building on 0.99
acres at 14914 Spring Cypress Rd., Cypress, from Rock Creek Salon Property LLC.
Workman represented the seller.
Sonic Automotive Group has purchased a 14,868-sf building on 2.27 acres (former site
of Porsche North Houston) at 18111 North Freeway, Houston, from indiGO Auto Group.
Luther represented the seller.
NewQuest Properties, founded in 2001, is a privately owned, full-service commercial real estate firm specializing in development, land brokerage, leasing, tenant representation, investment sales and property management services. Headquartered in Houston, NewQuest owns a portfolio encompassing more than 60 retail and mixed-use projects valued at $2.2 billion and provides leasing services for more than 12 million square feet of commercial space in Texas, Louisiana and throughout the U.S.
