HOUSTON – NewQuest Properties’ brokerage team has completed four trades in Greater Houston, including the acquisition of a highly sought-after triple net-leased asset in The Woodlands.
A local investor, LLPP Realty LLC, has won the competition for a fully leased 3,000-sf retail building at 513 Sawdust Rd. in The Woodlands. Securing the investment are long-term leases with national tenants Tune Up, The Manly Salon, and TitleMax of Texas.
“We really liked the real estate. It was all about the location,” says Rebecca Le, a senior vice president with the Houston-based brokerage firm. She teamed with Heather Nguyen, development partner, to secure the win.
The just-bought project is situated in one of The Woodlands’ most prominent retail corridors. The 0.26-acre outparcel is shadow-anchored by the 120,000-sf Rayford/Sawdust Center and surrounded by national brands like Walmart, Hobby Lobby, H-E-B, Big Lots and Dollar Tree.
LLPP’s new holding boasts 59 feet of frontage on Sawdust Road, which has a daily vehicle count of 50,000, and is situated a quarter of a mile from Interstate 45. Also, close by are headquarters campuses for three Fortune 500 companies. Ryan West and John Indelli of JLL represented the seller, 513 Sawdust Realty Ltd.
“It’s my client’s third net-leased acquisition in a couple months,” Le says. “She’s focused on diversifying her portfolio.”
NewQuest’s other sales transactions are:
- Jeff Lokey, an executive vice president with NewQuest, has sold a 1.53-acre commercial tract at 32606 FM 2978 in Magnolia for CamCon Properties LLC. David Boatner of Connect Realty represented the buyer, Aqua Texas Inc.
- NewQuest’s Andrew Alvis, a NewQuest vice president and development partner, has completed the sale of a 2,331-SF restaurant building on 0.64 acres at 6860 Fry Rd. in Cypress for Taco Realty. Karen Mitchell of Hudson Peters Commercial LLC represented the buyers, JH PR Group Holdings LLC, PR Holding LP and JH Katy Fry Rd. Property LLC.
- The NewQuest brokerage team of Kevin Sims, vice president, and Nick Ramsey, senior associate, has sold a 1.25-acre site at 16602 El Camino Real in Houston on behalf of Bruce Shelby. Wade Greene of Colliers International represented the buyer, Serac Tommy’s Carwash Upper Holdings LLC.