HFF announces the sale of a fully leased retail strip center at an irreplaceable location in Houston’s Washington Memorial Heights neighborhood.

The HFF team represented the seller, Orr Commercial. A private buyer purchased the asset.

The retail center is situated on .57 acres at 4902-4930 Washington Avenue where it intersects with Durham Drive, exposing the center to more than 27,500 vehicles per day. The center is in the Inner Loop/River Oaks retail submarket, which is one of the tightest and best-performing in the Houston MSA, and services some of Houston’s most affluent residential neighborhoods, including River Oaks, Washington/Rice Military, Montrose, the Heights and Downtown. More than 166,000 residents earning an average annual household income of approximately $144,000 live within a three-mile radius of the property. Completed in 1999, the Washing and Durham retail center is fully leased to FedEx Kinko’s, MT Nails & Facial Salon, Vapor Shop, Bell Cleaners and Subway.

HFF’s investment advisory team representing the seller included senior managing director Ryan West, director John Indelli and real estate analyst Charlie Strauss.

“This infill retail center has a great story – located at the hard corner of Washington and Durham, inside Loop 610 with in-place rents below market and robust residential growth along the Washington Corridor,” West said. “These types of retail centers are in high demand.”

“We had a competitive field of buyers seeking quality strip centers and were able to close the transaction only 28 days after our initial marketing launch,” Indelli added.

Holliday GP Corp. ("HFF") is a Texas licensed real estate broker.

About Orr Commercial

Orr Commercial was started in 1990 by Bobby Orr and is a development and brokerage company specializing in retail commercial development as well as select tenant representation of retail tenants. Its focus in Houston is well located properties typically on freeways or at major intersections. The company is an investment builder, and, through its partners collectively have over 65 years of experience. This local focus allows the company to react quickly to opportunities as they arise. Orr Commercial has developed over 50 shopping centers over the last 12 years. Visit http://www.orrcommercial.com for more information.

About HFF

HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.