The holding consists of a 4,791-sf building, which had housed aday care, and 11,652 sf of land at 8541 Long Point Rd. in SpringBranch. The property had been on the market for nearly three monthswhen the trust had bought it from GWR Property and Mortgage Co.,also a Houston business, and then immediately put it back up forsale, Gus Lagos, vice president of Grubb & Ellis Co.'s Houstonoffice, tells GlobeSt.com. He and associate Paula Foster havebrokered the deal once and are looking do so again.

The property's initial asking price had been $220,000. Now, it'sbeing offered for $199,000 or leased at 50 cents triple net, saysLagos. The trust, says the broker, "thinks there's some juicethere. It's a good retail area."

Traffic studies peg 12,000 vehicles a day pass by the site.Lagos says he doesn't know if a taker will be found more quicklythan the first time around. But, he says he's pretty sure he canhawk it for more money than the initial sale.