(For more retail coverage, click GlobeSt.com/RETAIL.)

WEBSTER, TX-The 19-acre Baybrook Gateway has been sold to New Plan Excel Realty Trust and JPMorgan Investment Management Inc. The class A, 236,854-sf center, across the road from Baybrook Mall, had attracted 100 requests for confidential agreements during its first week on the market.

Comparable retail centers in the area have sold for $295 per sf to $375 per sf. A hot market and cap rate compressions were the motivation for local owner Eastfield Realty Inc. to sell the 19-acre property at 1345 W. Bay Area Blvd., according to Stephannie Mower, executive vice president and managing director of investment services for PM Realty Group’s Dallas office.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.