Marcus & Millichap negotiated the sale and financing of Beechnut Village, a 62,990-square-foot grocery-anchored retail center in Houston, Texas.
Marcus & Millichap Capital Corporation (MMCC), a subsidiary of Marcus & Millichap, secured $7,475,000 in financing.
Scott Abeel and Philip Levy, investment specialists in Marcus & Millichap’s Dallas office, exclusively marketed the property on behalf of the seller and procured the buyer, a local private investor.
Jamie Safier, managing director in MMCC’s Houston office secured the financing. Terms of the 65% loan-to-value loan include a fixed interest rate at 6.50%.
Beechnut Village, located at 8145 Highway 6 S, is anchored by La Michoacana Meat Market, a top-performing grocer. The property is fully leased with triple-net leases and 15 tenants, including medical offices, discount retailers, and food and beverage businesses. Situated at the signalized intersection of Highway 6 and Beechnut Street, the center benefits from high traffic, with more than 78,630 vehicles passing daily.
