Wheeling and Dealing Bait Houston-Area Lease, Sale

HOUSTON-Enterprise Rent-A-Car has inked a lease for 1,200 sf of flex-service center space at 13805 West Rd. in northwest Houston. Meanwhile, A Washington-based investment company has bought a Radio Shack store in Mexia, TX.

Terry Lynch with J.T. Lynch Co., LLC represented Enterprise. L. Michael Wallace and Parker Johnson, both of Colliers International’s Houston office, handled the negotiations for building owner, San Antonio-based Koontz McCombs.

Enterprise, based in St. Louis, is the largest rental car company in the United States with 4,800 offices nationwide. Enterprise’s fiscal 2000 revenues were $5.6 billion. The company currently has 57 locations in the Houston area.

In another recent deal, Meadowland Properties Inc. has purchased a 2,600-sf retail building that houses a Radio Shack in Mexia, located east of Waco. Christopher D. Winters of Colliers International’s Houston team handled the sale on behalf of seller, Mexia Interests Inc. Mike Jenkins of Coldwell Banker Commercial in Vancouver, WA represented Meadowland Properties.

The seller is an entity of SDI, a Houston-based developer that built the freestanding building for Radio Shack. It’s SDI’s strategy to build and sell to an investor, which is what just occurred with the retailer’s Mexia location. A similar deal, says Winters, has just come down the pike for a Radio Shack in Sulphur, LA. Winters tells GlobeSt.com that the project is following a trend of retailers to closely trail Wal-Mart developments in rural areas.