The property involved in this transaction is a retail asset located at 19801 Gulf Freeway in Webster, Texas. The property encompasses a total area of 93,000 square feet and will host a large-format Ikea store, which is part of a $16.5 million project that will replace the former Bel Furniture and Chair King spaces.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $16.5 million
• Address: 19801 Gulf Freeway
• Market: Webster
• Asset Size: 93,000 SF
• Landlord: Conor Flynn - Kimco Realty Corp
• Tenant: Javier Quiñones - Ikea

This lease marks Ikea's second major location in the Houston area and is part of the company's broader $2.2 billion expansion plan in the United States. The store will feature approximately 7,000 products, in-store dining options, and flexible pickup and delivery capabilities.