Rockspring Properties Closes Sale of 19-Acre Sellers Bros. Grocery Portfolio in Greater Houston
Rockspring Properties is a Texas commercial real estate firm serving property owners, investors, and developers in the acquisition, disposition and marketing of commercial real estate assets.
Transaction includes four grocery-anchored properties across Houston and Pasadena
The transaction includes four properties anchored by operating Sellers Bros. grocery stores in established, densely populated neighborhoods throughout the Greater Houston area. Together, the properties include approximately 145,500 square feet of grocery retail space. Terms of the transaction were not disclosed.
Cotton Munson, Mike Axelrad and Aimee Namakarn of Rockspring Properties facilitated the successful closing of the portfolio.
“This was a unique portfolio because it combined established, income-producing grocery locations with significant underlying real estate in some of Houston’s long-standing neighborhoods,” said Cotton Munson of Rockspring Properties. “The opportunity attracted interest because of the strength of the locations, existing cash flow and the flexibility these properties provide for long-term ownership and potential future investment.”
The four grocery properties are leased on absolute triple-net terms and occupy prominent sites with access to major Houston-area transportation corridors.
The portfolio includes:
• 2311 Strawberry Road, Pasadena — Approximately 31,609 square feet on 4.38 acres at a signalized intersection, with convenient access to Texas Highway 225.
• 8011 Elvera Street, Houston — Approximately 37,537 square feet on 6.59 acres, including office and warehouse facilities, minutes from Interstate 610 and Interstate 45.
• 402 Edgebrook Drive, Houston — Approximately 48,903 square feet on 6.44 acres at a signalized intersection with multiple access points and proximity to Interstate 45 and Beltway 8.
• 601 N. Cesar Chavez Boulevard, Houston — Approximately 27,497 square feet on 1.87 acres, including an additional parcel at 6640 Avenue F, with convenient access to Interstate 45 and Interstate 69.
The properties are located within established residential and commercial trade areas, with five-mile populations ranging from approximately 270,000 to more than 327,000 residents.
About Rockspring Properties
Rockspring Properties is a Texas commercial real estate firm serving property owners, investors, and developers in the acquisition, disposition and marketing of commercial real estate assets. For more information, visit Rockspring.com.
Leslie Komet Ausburn
Komet Marketing Communications, Inc
+1 210-326-8992
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