Tuesday, March 8, 2016

HFF closes sale of two-story retail center in Houston, TX

                                                                                                 Photo by Mabry Campbell

Briar Lake Village Retail Center, 10455 Briar Forest Drive,
Westchase District, Houston, TX

Rusty Tamlyn
HOUSTON, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Briar Lake Village, a 36,607-square-foot, two-level retail center in Houston’s Westchase District.  

HFF marketed the property on behalf of the seller, Berkeley Land Company.  Briar Lake Village Inc. purchased the property for an undisclosed price.  In 2007, HFF brokered the sale of the property to the seller. 

Briar Lake Village is 85 percent leased to 12 tenants, including Palazzo’s Trattoria, Subway, Tiff’s Treats, Moderno, Newmark Homes, Advanced Orthodontics, Capital One Bank, Comerica Bank, Kolache Factory and Luchi & Joey’s.

 Situated on 4.146 acres at 10455 Briar Forest Drive at the southwest corner of Beltway 8 (Sam Houston Tollway) and Briar Forest Drive, the center is in the Westchase District, one of Houston’s employment centers. 

Additionally, there are more than 183,000 residents with an average annual income exceeding $88,000 within a three-mile radius of Briar Lake Village.

Senior managing directors Rusty Tamlyn and Ryan West led the HFF investment sales team representing the seller.  First vice presidents Todd Casper and Michael Hassler with CBRE represented the buyer.

Ryan West
“Briar Lake Village is steps away from large, well-leased, Class A, high-rise office buildings in Westchase District, an area with a daytime population of more than 250,000 people,” West said.  

“The restaurant theme on the ground level of the center creates a synergistic environment for those nearby office building employees.”

“Westchase District creates an exciting opportunity for businesses to have access to an affluent residential population with close proximity to the Beltway, I-10 and the Westpark Tollway,” Casper added.  

“We are excited to see what’s in store for Briar Lake Village as future tenants choose this retail center to provide their goods and services.”

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

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