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:
- Property Type: Retail
- Transaction Amount: Not specified
- Buyer: Danny Sheena - SLS Properties
- Seller: Bruce Christenson & Tom Lile - Gulf Coast Commercial Group
- Brokers: Chris Cozby, Harrison Tye, Jim Batjer, Jolie Duhon & Mark Witcher - CBRE
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
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