Tranphan Investment Inc. of Houston bought the 6,000-sf asset at11663 Jones Rd. from Allison Wen, also from Houston. Gloria Parrinowith Houston's Betz Commercial Brokerage Inc. tells GlobeSt.comthat Wen was selling his only commercial real estate asset because"he is not really in the real estate business."
The retail building never made it to market although there werethree contracts that fell out before it sold. Each time a dealcratered, Parrino says she would be contacted by another interestedbuyer.
There was one vacancy at sale time, but a florist has since beensigned, according to Parrino. A local dry cleaners and passportphoto shop occupy the balance of the 26-year-old asset, positionedon a half acre. Jim Huy Luong of Hometeq Real Estate of Houstonrepresented the seller.
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