Bissonnet Corner, a 12,768-square-foot (sf) neighborhood shopping center in the affluent Bellaire submarket of Houston, has been acquired by a private investor for an undisclosed purchase price. Chris Harden, Kris Von Hohn and Ryan Duffie of Cushman & Wakefield represented the private seller.
Bissonnet Corner is located at 5427 Bissonnet St., within the retail corridor known as the Bellaire Triangle. The property, which was built in 2008, includes a mix of local retailers, including Saltillo Mexican Kitchen and Bissonnet Dental.
Von Hohn said the shopping center was particularly attractive as an investment property because its rental rates are significantly lower than retail locations nearby.
“Bissonnet Corner is located in one of the densest and most affluent submarkets in Houston. The area is quickly redeveloping with unprecedented rent growth, and the property had vacancy and rents that are well below the current market,” he said.
The sale closed April 1.
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Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.