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189K-SF Webster Power Center Acquired by SLS
Gulf Coast Commercial Group spun off Baybrook Passage, a 189,334 square foot shopping center in Webster, southeast of Houston. The center, at 19425 Gulf Fwy., was acquired by SLS.
Mark Witcher, Jolie Duhon, Chris Cozby, Jim Batjer and Harrison Tye with CBRE National Retail Partners arranged the transaction on behalf of the seller. SLS Properties was self-represented.
The shopping center was built in 2003 and is anchored by Best Buy and Staples. Additional tenants include Boot Barn, Skechers, and Memorial Hermann, as well as a national roster of food & beverage, medical and service-oriented retailers. At the time of sale, the property was 97.2% occupied by 29 tenants with an average tenure of 18 years.
Situated at the intersection of I-45 and Bay Area Boulevard, the shopping center is adjacent to Baybrook Mall and more than 3.8 million square feet of retail along the corridor. The location sees 30 million visitors annually with direct exposure to 210,000 vehicles per day, according to CBRE.
- ◦Sale/Acquisition
