The 20-year-old center is located at 10815 Beechnut. David Stukalin and Shawn Ackerman with Dallas-based Weitzman Group handled the negotiations. Stukalin tells GlobeSt.com that the 90%-occupied neighborhood center was purchased as an investment. He describes it as a strong retail operation, but without anchor tenants. Its tenant roster primarily is made up of local business owners from the Asian community. The acquisition, says Stukalin, came with a good leasing income and an attractive cap rate.
In another sale, CSI has hawked a 12,000-sf office-warehouse holding at 12200 W. Little York in northwest Houston. Turner Electric is the buyer. Thad Hickman and Tyndall Yaap, both of Grubb & Ellis Co.'s Houston office, represented the seller. Tim Clay of Clay & Co. in Houston acted on the buyer's behalf.
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