A 16-acre retail property located at 19225 Gulf Freeway in the Webster market has been sold for $50 million. The asset encompasses a total square footage of 320,000, translating to a price per square foot of $156. The property is positioned across from Baybrook Mall, adding value to the acquisition.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $50,000,000
• Address: 19225 Gulf Freeway
• Market: Webster
• Acres: 16
• Square Feet: 320,000
• Price Per Square Foot: $156
• Buyer: Sammy Virani - Ashita Investments
• Seller: John Albright - Alpine Income Property Trust Inc.

Sammy Virani's Ashita Investments has acquired the property, enhancing its portfolio with this strategic purchase in the Clear Lake market. Notably, the acquisition includes tenants such as Lowe’s and Olive Garden, and adds to the 33 acres previously purchased in the area. This transaction underscores Virani's investment focus in the expanding retail sector.