Rusty Tamyln, principal in Houston for Dallas-based Trammell Crow Co., tells GlobeSt.com that the seller, Read King of Houston considered refinancing and the one-year-old building at 19720 Northwest Freeway and then decided to take advantage of the favorable investment sales climate. The net-leased marketplace produced a bidding war for a six-acre asset, assessed at $3.9 million, which came to market without a minimum ask.

The seller's brokers are mum about the final price due to a strict a confidentiality clause, but David Butler, principal and director in the Houston office of Colliers International, says an Academy Sports, net-leased property would likely sell for $60 per sf to $75 per sf. He says the figure is partly based on Academy's historic practice of keeping rents between $6.50 per sf and $8 per sf.

Steve Dome with NAI Partners Commercial in Houston says the acquisition was the buyer's first net-leased transaction although he holds other commercial real estate deeds around town. Dome and NAI's Tim Ferguson represented the buyer of record, Academy Cross Roads Houston Ltd., which is planning a long-term hold due to the 20-year lease with an investment-grade tenant.