HOUSTON, March 23, 2015 – 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 private investor in the acquisition of a single tenant net leased (STNL) asset, located at 26050 Northwest Freeway in Houston, Texas. Denny’s occupies the property and has multiple years remaining on a ground lease with an established multi-unit franchisee that has operated the location since its development more than 10 years ago.
“Persistence was key in this transaction as the property owner was initially hesitant to sell. However, we were able to pique the owner’s interest with an offer from a strong investor with intimate knowledge of the asset,” said Matt Moake, CCIM, an acquisition/disposition executive at HighStreet Net Lease Group. “The timing of the transaction was ideal for the out-of-state owner to exit the asset and allowed our client to acquire a valuable property at their desired price point.”
The 4,000-square-foot property is located in a high traffic retail corridor of Northwest Houston with the tenant paying below market rent, creating solid future upside potential. The immediate area is home to national brand retailers such as WalMart, Home Depot, Lowe’s, Hobby Lobby, Target, Kroger, JC Penney and Bed Bath & Beyond. The population within a three mile radius of the property has increased by 12 percent since 2010 and is projected to grow by an additional 10 percent through 2019. Also, the barriers for a new STNL property to enter this corridor are high, adding value to the Denny’s asset.
HighStreet Net Lease Group provides a highly unique and customized approach for each project to ensure the best, long-term value and success for clients. In this case, the Denny’s net leased investment property was an off-market transaction HighStreet Net Lease Group uncovered for its client through diligent market research and aggressive communication with the seller.
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.
Learn more about HighStreet Net Lease Group.
For more information:
C. Pharr & Company for HighStreet Net Lease Group
(office) (972) 931-7576 ext. 354
(cell) (972) 896-0947