HFF announces that it has closed the sale of Normandy Shopping Center, a 44,297-square-foot retail strip center that is 98.1% leased and shadow anchored by a Kroger store in the northeast part of Houston, Texas.
HFF marketed the property for the seller, Williamsburg Enterprises Limited. A private investor purchased the asset.
Situated on 6.07 acres at 12620 Woodforest Boulevard, Normandy Shopping Center is at the intersection of Woodforest Boulevard and Normandy, which sees a combined traffic count of nearly 40,000 vehicles a day. The center is one mile north of Interstate 10, one of Houston’s busiest freeways, and more than 106,000 residents live within a three-mile radius of the center, which represents an 11% growth since 2010. Shadow anchored by Kroger, Normandy Shopping Center is one of only two nationally recognized grocery-anchored centers in the immediate trade area. The center is 98.1% leased to a diverse mix of internet-resistant tenants, including Zachry Construction, Texas Children’s Urgent Care, GNC, Pink Nails, Wing Stop, Rodeo Dental, Dominos and Woodforest National Bank.
HFF’s investment advisory team representing the seller was led by senior managing director Ryan West, director John Indelli and analyst Johnny Kight.
“Houston retail properties continue to be highly sought after, as investors are taking note of the market’s strong retail fundamentals and attractive financing options,” Indelli said.
Holliday GP Corp. ("HFF") is a Texas licensed real estate broker.
About Williamsburg Enterprises Limited
Since 2009, Williamsburg Enterprises has invested in more than 100 unique opportunities across the United States. Williamsburg is a fully integrated real estate investment firm specializing in acquisition, development, management and leasing. The company frequently invests along with its existing partners and with proven leaders who have demonstrated an ability to excel in their respective fields. While the majority of the company’s holdings are located in Texas, Williamsburg continuously evaluates opportunities in other states. Learn more at http://williamsburgent.com.
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.
