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| Mason Village Shopping Center, 21945 Katy Freeway Katy, TX |
HOUSTON, TX – HFF announced it has closed the sale of Mason
Village Shopping Center, a 97,405-square-foot retail center in the western
Houston suburb of Katy, Texas.
HFF
marketed the property on behalf of a private Houston owner. DNA Partners purchased the asset free and
clear of existing debt.
Mason
Village Shopping Center sits on approximately 9.5 acres at 21945 Katy Freeway
at the southwest quadrant of Mason Road and Interstate 10, approximately 24
miles west of downtown Houston.
The 99 Cents Store-anchored center is 94 percent leased to
17 tenants, including Harbor Freight Tools, Jason’s Deli, Freebirds, Huntington
Learning Center, Just for Feet and Jiffy Lube.
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| Ryan West |
The
HFF investment sales team representing the seller was led by managing director Ryan
West.
“Mason
Village presented an opportunity for somebody to purchase a proven asset and
quickly add value,” West said. “The
asset, until now, had been owned by the same family for nearly 30 years. We were honored to handle the transaction
for the seller and DNA was a great buyer.”
DNA Partners acquires and manages commercial properties in
select markets with strong demographics and economic drivers. Since their inception in 2002, DNA has
purchased more than 1.3 million square feet.
Their criterion includes high growth markets, below market
rents or expansion potential, strong sales, significant linear frontage for
maximum visibility and reasonable potential for capital appreciation through
management and leasing opportunities.
For a complete copy
of the company’s news release, please contact:
Kristen M. Murphy
Associate Director
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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