Hanley Investment Group Real Estate Advisors completed the sale of a single-tenant Walgreens-occupied property on an outparcel to a Kroger-anchored shopping center in an affluent suburb of the Houston metro area.
Hanley Investment Group’s Executive Vice President Kevin Fryman, Vice President Garrett Wood, and President Ed Hanley, in association with ParaSell, Inc., represented the seller, a private investor based in Houston. The buyer, a private investor from Alexandria, Louisiana, was represented by Melissa Gerber Brams of Gerber Realty in Houston (Bellaire, Texas).
Built in 2001, the 14,490-square-foot Walgreens building is located within the Kroger-anchored shopping center at the signalized intersection of Spring Cypress Road and Champion Forest Drive on 1.69 acres, at 18535 Champion Forest Drive in Spring, Texas. Walgreens has a prototype store format with a drive-thru and has a large monument sign.
Nearby retailers besides Kroger, include Chipotle Mexican Grill, Taco Bell, Burger King, Pizza Hut, Wendy’s, Dutch Bros, Chase bank, Imagine early education and childcare center, Postal Annex+, and Massage Envy.
