HFF Brokers Houston Retail Asset Sale
- Jun 25, 2019
HFF announced it has closed the sale of Normandy Shopping Center, a 44,297-square-foot retail strip center in Houston to a private investor. Senior Managing Director Ryan West, Director John Indelli and Analyst Johnny Kight from the brokerage company represented the seller, Williamsburg Enterprises Ltd.
Located at 12620 Woodforest Blvd. on a 6.1-acre site at the intersection of Woodforest Boulevard and Normandy Street, the asset is exposed to roughly 40,000 vehicles a day. Additionally, more than 106,000 residents live within a 3-mile radius of the center, an area that has seen an 11 percent population increase since 2010. Surrounded by several residential communities, the property is 1 mile from Interstate 10 and more than 11 miles east from downtown Houston. At the time of the sale, the asset was 98.1 percent leased to a roster of tenants which included Texas Children’s Urgent Care, Dominos, Woodforest National Bank and Zachry Construction and shadow-anchored by a Kroger store.
Recently, another HFF team worked on behalf of the seller in the disposition of Poway Crossings in San Diego. The 109,455-square-foot community shopping center sold for $27 million.
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