Wednesday, December 5, 2018

HFF announces sale of single-tenant retail building near Houston, TX

Walgreens-Leased Building, 1180 Clear Lake City Boulevard, Clear Lake, TX                                                                                                                Photo by Mabry Campbell                                                                                                                                
HOUSTON, TX –– HFF announces the sale of a 13,905-square-foot single-tenant retail building net leased to Walgreens in the suburban Houston community of Clear Lake, Texas.

Ryan West
The HFF team marketed the property for the seller, Lister Property Company.  The Chiang Family Trust purchased the asset. 

Walgreens has occupied the property since 1998 and has more than nine years remaining on its net lease after a recent renewal last year.  

Situated on 1.9 acres at 1180 Clear Lake City Boulevard, the freestanding building is in Clear Lake, one of Houston’s premier suburbs that is approximately 20 miles southeast of downtown Houston.  

The property is one mile from Interstate 45, which welcomes 193,000 vehicles per day.  More than 70,000 residents earning an average annual household income of $105,000 live within a three-mile radius of the Walgreens. 

HFF’s investment advisory team representing the seller included senior managing director Ryan West and analyst Charles Strauss.   

Charles Strauss
“The market for single-tenant, triple-net-leased properties is robust,” West said.  “Private investors like the idea of ‘mail-box money’ – receiving a monthly rent check with no management responsibility.  

"We continue to see buyer pools increase, especially for properties such as this that are supported by a best-in-class tenant in one of Houston’s most sought-after suburbs.”

Holliday GP Corp. ("HFF") is a Texas licensed real estate broker.


CONTACTS: 

RYAN WEST
TX Lic. #478560
HFF Senior Managing Director
(713) 852-3500

KIMBERLY STEELE
HFF Digital Content/Public Relations Specialist
(713) 852-3420

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