Sega Development LLC Acquires 82,073 SF Retail Center In Houston From True Saga LLC For $12.4M

The property asset involved in the transaction is an 82,073 square foot retail center located at 1319 Cypress Creek Parkway in Houston. The transaction was valued at nearly $12.4 million. The retail center is situated on 7.1 acres and is 97% leased, with Advance Auto Parts serving as an anchor tenant. It was sold by True Saga LLC following a four-year hold period.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $12.4M
• Address: 1319 Cypress Creek Parkway
• Market: Houston
• Square Footage: 82,073
• Acres: 7.1
• Buyer: Sega Development LLC
• Seller: True Saga LLC
• Buyer's Representative: Northmarq Commercial LLC
• Seller's Representative: Dakota Workman - NewQuest Properties

NewQuest Properties facilitated the sale of the retail center, which was strategically located next to major residential developments, enhancing its attractiveness to buyers. Dakota Workman represented the seller, True Saga LLC, during the transaction, while Northmarq Commercial LLC represented the buyer, Sega Development LLC.