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Texas  + Houston-Galveston  + Retail  | 
Farha International Closes on S. Houston Monroe Medical Plaza

South Houston Medical/Retail Center Bought by Farha International

The 74,501 square foot Monroe Medical Plaza is situated on nearly seven acres at 8525 Gulf Freeway. The plaza, which is 90% leased has mostly medical tenants, with a few retail tenants, ten in all.

NewQuest’s David Luther represented the buyer, Farha International, “It’s a stabilized asset with a high number of medical tenants who are deeply invested at the location. It’s truly a unique asset because of the high number of destination-oriented medical tenants with hospital-quality build-outs and equipment.” Casco Realty Advisors was the seller.

Farha International made the close with 1031 Exchange funds and traditional financing from a local bank. The center is at Monroe Boulevard and the Gulf Freeway, near Houston Hobby Airport. It was completed in 1979 and renovated in 2005.

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David Luther

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

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