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Recent Retail Sales in Houston

Date Added: February 08, 2013 08:51:32 AM
Author: Pat Oconnor
Category: Business & Economy: Real Estate & Property

The real estate market of Houston shows a remarkable improvement in the recent months. In the month of December 2012, 56 retail buildings were sold in the whole market, an increase of 27.27% over the previous month. In particular Harris market has reported a figure of 49, a decrease of 45%, when compared to December 2011. In terms of square feet, overall sales have increased 28.7% compared to December 2011. Some of the recent sales include: In December 2012, Louetta Dunhill LP, an entity of Dunhill Partners Inc has purchased the following properties located in the Far North sector, from UCM/RCG-Louetta Pad LP, an entity of Retail Capital Group. George Cushing and Wendy Vandeventer of Grubb & Ellis Company represented the seller. Louetta Central Kohl’s, an 87,000 square-foot, single-tenant building located at 20614 North Freeway in Houston, Harris County. The property is fully-leased by Kohl’s through 2023. The multi tenant property is located at west of Whitewood Drive and South of East Louetta Road. The single tenant property has access to Whitewood Drive. According to the appraisal district records, the assessed value of the property is $5.52 million. The rent type is triple net. The retail property is situated on 6.37 acres. Louetta Central, a 71,000 square-foot, neighborhood center located at 20618-20622 North Freeway in Houston, Harris County. The ten-year-old center is fully occupied with average rents at $1.92 per square foot. The multi tenant property is located at the intersection of East Louetta Road and Whitewood Drive. The property has access to Whitewood Drive and East Louetta Road. The retail center is situated on 5.25 acres and the rent type is triple net. According to the appraisal district records, the assessed value of the property is $6.95 million. Major tenants at the property include Michaels, Ross Dress, and Famous Foot Wear. Louetta Central, a 13,000 square-foot, strip center located at 20530 North Freeway in Houston, Harris County. The 12-year-old center is fully occupied. The multi-tenant property situated on 0.96 acres is located East side of North Freeway and North of Louetta Cross and South of East Louetta Road. The retail center has access to North Freeway and Louetta Cross. According to the appraisal district records, the total assessed value is $2.4 million. Timely and accurate real estate market data increases transparency for real estate markets. It also helps to dampen the amplitude fluctuations. OConnordata rental databases are updated monthly or more often if information becomes available. Our ability to research, analyze and interpret market trends is a major reason for why developers and acquisition experts rely on O’Connor & Associates for market studies, feasibility studies, rent studies, Houston Retail Space To Lease tax credit studies, project design guidance, Houston Retail Space For Sale property performance valuation and lease audits. O’Connor & Associates is an acknowledged source of trends in real estate investing and market activity. http://www.oconnordata.com/Houston_Retail_Lease.cfm http://www.oconnordata.com/Houston_Retail_Data.cfm
 
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