WEBSTER, Tex.-- Cushman & Wakefield recently arranged the sale of a 236,854-square-foot regional power center Baybrook Gateway in Webster. Tom Salanty, Chris Harden and Kris Von Hohn of Cushman & Wakefield's Texas Retail Advisors Capital Markets Group represented the seller.

“This was an extremely unique opportunity that drew solid interest from across the country,” says Salanty in a press release. “As expected, the transaction has proven to be one of the best value-add plays in Texas with the potential lease-up of over 80,000 square feet of space in a robust regional retail hub.” 

According to Cushman & Wakefield, Baybrook Gateway, located along I-45 south of Houston, “provided the rare opportunity to invest in a regional power center with upside potential and income stability in a location that has excellent demographics, significant growth projections, and tight big-box availability.” The center was 65 percent occupied by national tenants including Ashley Furniture, World Market, Barnes & Noble, Aaron Brothers, Michaels and Jared Jewelers at the time of the sale.

“With a high concentration of top performing retailers and significant adjacent traffic counts, we were able to position Baybrook Gateway appropriately to the right investor,” says Salanty. “Our team combined our extensive investor relationships, broad due diligence and real-time market data to ensure no stone was left unturned.”

Reps with Cushman & Wakefield were unable to return a request for more details by press time.