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| Village Real Shopping Center, Houston, TX |
HOUSTON, TX – Marcus & Millichap (NYSE: MMI), a leading
commercial real estate investment services firm with offices throughout the
United States and Canada, announced the sale of Village Real shopping center,
a 94,259-square-foot regional retail center in Houston. The terms of the sale
were not released.
Jerry
Goldstein, first vice president investments in Marcus & Millichap’s
Houston office, arranged the sale on behalf of the seller, a local partnership.
Goldstein also sourced the buyer, Dallas-based Dunhill Partners.
“The
Village Real Shopping Center is well positioned to benefit from the ongoing
growth of the Houston metropolitan area,” says Goldstein, “and the property’s
vacant 15,309 square feet provides the new owner with a revenue enhancement
opportunity.”
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| Jerry Goldstein |
The shopping center is located at the intersection of Nasa
Parkway and El Camino Real at 961 Nasa Parkway in Clear Lake City, a
12,000-acre master-planned community in Houston.
El Camino Real, with
traffic counts of more than 90,000 cars per day, links major commercial
developments and residential subdivisions throughout Clear Lake City. Nasa
Parkway is a major east/west thoroughfare and the primary exit from Interstate
45 South (The Gulf Freeway) that provides access to Clear Lake City, the
National Aeronautics and Space Administration’s Johnson Space Center and the
Kemah Boardwalk, 60-acre entertainment destination.
The Nasa Parkway/El Camino intersection has retail
properties on three corners and an office property on the fourth.
Built in 1976 on 4.4 acres and most recently renovated in
2008, Village Real Shopping Center is occupied by a 21,803-square-foot Office
Depot and an 8,440-square-foot Half Price Books. There are 23 tenant spaces
that range in size from 820 square feet to 21,803 square feet.
Tenants include Eduardo’s Mexican Restaurant, Subway, Nasa
Liquor, Value Furniture, Masa Sushi, J.C. Jewelers and Hollywood Hair, among
others.
For a complete
copy of the company’s news release, please contact:
Gina Relva
Public Relations Manager
(925) 953-1716
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