Stan Johnson Company Brokers Sale of a Freestanding Retail Property in Houston, Texas
Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a freestanding retail property leased to TitleMax. Located at 7640 Highway 6 South in Houston, Texas, the 2,732-square-foot retail store was purchased by an investment group from Sugar Land, Texas. Stan Johnson Company’s Evan Altemus represented the seller, Freeway Properties, a Houston-based developer. The price and cap rate were not disclosed.
“The property was an ideal fit for the buyers – they were looking for a COVID-19-resistant discount retail concept that featured a net lease,” said Altemus, Associate Director in Stan Johnson Company’s Dallas, Texas office. “They were drawn to this property because it was on a high-traffic road in a dense residential area of West Houston. Properties in high-trafficked areas have become even more desirable during the pandemic, as buyers have viewed them to be lower risk with a higher probability of re-leasing if a tenant vacates.”
Originally built in 1994 on 0.65 acres, the property was renovated in 2012. Prior to the sale, the tenant illustrated long-term commitment to the location by executing an early renewal.
About Stan Johnson Company:
Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses on investment sales transactions involving retail, office, industrial, healthcare, and specialty properties. The firm provides acquisition, disposition, sale leaseback, capital markets, and advisory services for institutions, developers, investment funds, corporate occupiers, and private investors across the United States. With a historic focus in the single-tenant net lease sector, Stan Johnson Company is now in its fourth decade of operation and has expanded its service platform in order to better serve its valued clients. The firm has completed more than $40 billion in transactions nationwide and continues to be regarded as the Net Lease Authority® as it focuses on continued growth and expansion into other industry sectors and services. To learn more about Stan Johnson Company, please visit: www.stanjohnsonco.com.