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2323 Clear Lake City Boulevard

Elite Pickleball Club's New 40,000 SF Facility At Bay Pointe Shopping Center, Houston
LEASEDRetail

Elite Pickleball Club's New 40,000 SF Facility At Bay Pointe Shopping Center, Houston

2323 Clear Lake City Boulevard

Building Size

40,000 SF

Asset Type

Retail

Closing

Jun 5, 2024

AI

The property at 2323 Clear Lake City Boulevard in Houston is a 40,000-square-foot retail space located within the Bay Pointe Shopping Center. The facility, originally built in 1993 on nine acres, spans a total of 103,385 square feet.

Summary of transaction details:

The lease negotiations for the Elite Pickleball Club's new indoor facility were facilitated by Lesley Rice, Andy Parrish, and Audrey Schulz from Partners Real Estate, along with Huntley Grichor from Red Key Houston. Elite Pickleball Club will be occupying a portion of the Bay Pointe Shopping Center as they launch their 40,000-square-foot facility in southeast Houston.

Players

Andy Parrish

Broker

3 deals

Broker

Houston Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93