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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.


Inside The Story

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.

  • ◦Sale/Acquisition