According to Shawn Ackerman of Henry S. Miller Commercial's Houston office, who represented the former owner, Beechnut 10815 Inc. of Houston, the deals closed just as the property at 10185 Beechnut St. was changing hands. Monique Beauty Supply leased 3,021 sf and Pho 29 took 1,300 sf for a Vietnamese Noodle shop. Both tenants took as-is space in a center with a quoted rate of $12 per sf annually, according to Ackerman. Openings for both stores are imminent.
Ackerman tells GlobeSt.com that Beechnut 10815 Inc. sold the 31,000-sf center about a month ago, but he says details remain sketchy. "No one knows who the new owner is," he says. "This sale took everyone, including the folks managing the property, by surprise."
Built in the 1980s, Beechcrest was 86% leased at sale time. Market speculation is a private investment group from California purchased the property and most likely will renovate it.
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