Quantum Real Estate Advisors, Inc. has brokered the sale of a single-tenant net-leased property located at 800 Wade Road, Baytown, Texas. The free-standing building is leased to Dollar General with an estimated completion date of October 2020.
The buyer was a private real estate investor based in Chicago, represented by Jason Caplan, senior vice president of Quantum Real Estate Advisors, Inc. The seller was a developer located in Springfield, Missouri, represented by Cody Christ of Trinity.
“The buyer had his pick of new construction Dollar Generals but ultimately selected this one based on the proximity to I-10,” Caplan said. “The buyer had his funding pulled at the last hour due to the banks reaction to COVID, but fortunately both parties worked together to find an additional source of debt, and get the deal closed.”