Avison Young Acquires Retail Property In New Braunfels For $6.3M

Avison Young has acquired a retail property located at 27950 Countryside Drive in New Braunfels, Texas. The property spans approximately 1.91 acres and features a total square footage of 4,821 square feet. The transaction was a sale, with the property being sold for a price of $6,300,000 at a price per square foot of $1,307. The seller of the property was Prudent Development.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $6,300,000
• Address: 27950 Countryside Drive
• Market: New Braunfels
• Acres: 1.91
• Square Footage: 4,821
• Price Per Square Foot: $1,307

The buyer's representative in the transaction was Mitch Stokes from Avison Young, while the seller's representative was Matthew Scow from Secure Net Lease. The property was purchased by a Southern California-based private investor in a 1031 exchange. Notably, the retail property is currently occupied by a 7-Eleven store and Laredo Taco restaurant, and it comes with a new long-term lease.