Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOUSTON-A beauty shop and a restaurant have signed five-year deals for a combined 4,321 sf in the 31,000-sf Beechcrest Green Shopping Center.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Fall 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.