BRYAN, TX-A Houston-based investor has sold Bryan Freedom Center, a 10,150-sf multi-tenant shopping center at 3303 Freedom Dr. here, a college town located less than 90 miles northwest of Houston. S&S Freedom LP, a private investment partnership based in Austin paid close to the $1.69 million sticker price for the asset.

The center, which is situated on roughly an acre, came with a $1.1 million, non-recourse loan through Prudential Mortgage Capital Co. of Newark, NJ, that had to be assumed by the buyer. Christopher D. Winters with the Houston office of Colliers International represented the seller, whose name of record was Bryan Freedom Center Ltd. in the deal.

He tells that because of the non-prepayable conduit loan on the property, he focused his marketing efforts on buyers that would find such a deal attractive. The seller was the original developer of the asset, he explains, and was disposing of the property in order to redeploy capital into other projects.

The center has only one small vacancy, says Winters, which is close to being filled. Tenants currently in the center include Radio Shack, Quizno’s, GNC Nutrition and Marble Slab. The property is shadowed on its east side by a Lowe’s Home Improvement store and is across the street from a Wal-Mart Supercenter.

Winters says the new owner purchased the property, which was built in 1999, with the intention of holding it for some time. Michael Stone of Cawley International in Austin represented the buyer.

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