HFF announces the sale of Beechcrest Shopping Center, an 89,679-square-foot retail center anchored by a local grocery store in the southwestern part of Houston, Texas.
The HFF team marketed the property for the seller, Global Fund Investments, LLC. Wu Investments purchased the asset.
Situated on 7.17 acres at 10828 Beechnut Street, Beechcrest Shopping Center’s location is surrounded by four of the top 10 ZIP codes in Houston measured by population per square mile. The center is less than half a mile from Beltway 8 (Sam Houston Tollway) at the intersection of Beechnut and Wilcrest Streets, which have a combined traffic count of nearly 60,000 vehicles per day. A population of more than 26,543 residents live within a one-mile radius of the center. Beechcrest Shopping Center is 100 percent leased to a diverse mix of internet-resistant tenants, including Wazobia African Markets, DD’s Discounts, Dollar General, Lone Star Title, Pizza Hut, Lu-Ann Furniture, Holman Medical, Liquor Store 4, Ace Dry Cleaners, Tacqueria El Charro, N’Joi Coffee & Tea and Jolynn’s Crawfish.
HFF’s investment advisory team representing the seller included senior managing director Ryan West, director John Indelli and analysts Charles Strauss and Ethan Goldberg.
“Beechcrest Shopping Center has the perfect tenant mix for its dense surrounding population, and this asset will be a great addition to Wu Investment’s portfolio,” West said.
Holliday GP Corp. is a Texas licensed real estate broker.
About Global Fund Investments, LLC
Global Fund Investments, LLC, is a real estate investment company headquartered in South Florida. GFI acquires, develops, redevelops, manages, leases and finances retail shopping centers across the Southeastern United States, with a core focus on Florida, Texas and Georgia. To learn more about GFI, please visit www.gfinvestments.com.
About Wu Investments
Wu Investments is a Houston-based firm that currently owns several retail centers throughout Texas and Ohio. In addition, the firm is currently developing an additional three locations in the Greater Houston area with tenants, including Aldi, Starbucks and Sprint. Tenants within Wu’s portfolio include Kroger, Steinmart, Dollar Tree, Bank of America, Subway, AT&T, Goodwill and several others.
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.
