The Criterion Fund Acquires Little York Plaza Retail Property In Houston For Retail Investment
1523 Little York Road
Building Size
114,982 SF
Asset Type
Retail
Closing
Oct 15, 2024
AI
The property involved in this transaction is a retail shopping center located at 1523 Little York Road in Houston. The asset spans 114,982 square feet and covers an area of 11.4 acres. It is anchored by Sellers Bros. and includes tenants such as Dollar Tree and Melrose Family Fashions.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Address: 1523 Little York Road
- Market: Houston
- Square Footage: 114,982
- Acres: 11.4
- Buyer: The Criterion Fund
- Brokers: Ryan West & John Indelli - JLL
Ryan West and John Indelli from JLL represented the undisclosed seller in this transaction. The Criterion Fund, a retail investment firm, was the buyer of the property, acquiring Little York Plaza after negotiations facilitated by JLL.
Players
Houston Retail Market Snapshot
Boundary boundary · Retail · Sale 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