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19425 Gulf Freeway

Danny Sheena Of SLS Properties Acquires Baybrook Passage Shopping Center From Bruce Christenson & Tom Lile
SOLDRetail

Danny Sheena Of SLS Properties Acquires Baybrook Passage Shopping Center From Bruce Christenson & Tom Lile

19425 Gulf Freeway

Building Size

189,334 SF

Asset Type

Retail

Closing

Dec 20, 2024

AI

The property asset involved in the transaction is the Baybrook Passage shopping center, located at 19425 Gulf Freeway in Webster, Texas. The retail space encompasses 189,334 square feet and is 97.2% leased. The shopping center is anchored by Best Buy and Staples and is strategically situated near Baybrook Mall, benefiting from exposure to 210,000 vehicles daily.

Summary of transaction details:

This transaction highlights the involvement of SLS Properties, represented by Danny Sheena, in acquiring the property from Gulf Coast Commercial Group, represented by Bruce Christenson and Tom Lile. The brokerage team from CBRE, which includes Chris Cozby, Harrison Tye, Jim Batjer, Jolie Duhon, and Mark Witcher, facilitated the deal.

Players

Jim Batjer

CBRE

Broker

3 deals

Broker

Webster 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