Louetta Creek Plaza sold to local investment group
HOUSTON - HighStreet Net Lease Group, a Texas-based company specializing in the disposition and acquisition of net leased investment properties throughout the United States, recently represented a Houston-based retail owner/developer in the disposition of Louetta Creek Plaza, a multi-tenant retail center located at 4660 Louetta in Spring, Texas. Matt Moake, CCIM, an acquisition/disposition executive at HighStreet Net Lease Group, represented the seller. Glenn Clements with MFT Interests represented the buyer, a local investment group.
The 27,000-square-foot property was originally developed in 2005 and provides tenants with excellent visibility just off the high traffic intersection of Louetta and Kuykendahl. The center has well stabilized occupancy in a rapidly growing submarket of northern Houston.
“The sale of Louetta Creek Plaza was a home run for our client, who is constantly acquiring and developing new property,” said Moake. “The seller’s exit goals were achieved and they now have additional capital ready to deploy into future acquisitions and development projects. It will be exciting to see the new owner’s strategy with the center as the surrounding area continues to grow. Improvements to the adjacent power center will enhance the value of Louetta Creek Plaza, giving the new ownership group ample opportunity to create significant upside.”
HighStreet Net Lease Group represents numerous investors that are constantly acquiring and selling properties throughout the U.S. In this case, HighStreet was able to generate immediate interest which led to multiple offers, resulting in the property going under contract shortly after hitting the market. HighStreet was able to identify the ideal buyer that was comfortable with the tenant mix and understood the upside potential for this well-located retail property.
About HighStreet Net Lease Group
HighStreet Net Lease Group specializes in the acquisition and disposition of net leased retail properties throughout the United States. The driving force of HighStreet as a net lease brokerage firm is to assist clients in achieving their investment goals. Whether through the disposition of an asset at the highest possible price using their proven platform, or an acquisition of a core property at an attractive return, the company is constantly seeking unique and attractive opportunities for their seller and buyer clients. To learn more about HighStreet Net Lease Group, please visit www.highstreetnetlease.com.