Whitestone REIT Acquires Retail Property For $158M In Houston Transaction

The property involved in the transaction is BLVD Place, a 217,000 square foot mixed-use development located at 1800 Post Oak Blvd, Houston, TX. The asset, anchored by Whole Foods, was sold for $158,000,000.00. Whitestone REIT acquired the property, including a 1.4-acre tract, to develop a six-story mid-rise building with 91,000 square feet of office space atop 46,000 square feet of retail space. BLVD Place, developed by a partnership between Wulfe & Co. and Bailard Inc., is 99.2% occupied.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $158,000,000.00
• Market: Houston
• Seller's Representative: Matt Kafka(JLL), Rusty Tamlyn(JLL), Trent Agnew(JLL)
• Buyer: Whitestone REIT
• Seller: Bailard Inc

HFF's Rusty Tamlyn, Matt Kafka, and Trent Agnew represented the Wulfe-Bailard entity in the deal. Broker information for Whitestone REIT was not disclosed.