Search
 

$5M Exchanged for 45,000-SF Retail Deed

LEAGUE CITY, TX-An Austin investment group on the road to dissolution sells the 87%-leased shopping center along FM 2094 to a Denver buyer with 1031 Exchange funds from three out-of-state retail properties.

By Jennifer Brenner Andrade | Updated on April 21, 2004

LEAGUE CITY, TX-The Lakeside, a 45,000-sf shopping center southeast of Houston, has traded to a Denver buyer for just south of $5.3 million.

The property was brought to market by Lakeside 2094, a limited partnership with principals in Austin now on a course to dissolve the investment group, Jerry D. Goldstein in the Houston office of Marcus & Millichap Real Estate Investment Brokerage Co. tells GlobeSt.com. The shopping center was on the market just three weeks before it went under contract to Litchfield Lakeside LLC, one of four investors placing an offer for the holding.

The Denver buyer used 1031 Exchange money from the sale of three out-of-state retail properties and obtained additional financing from a local bank to buy the 20-year-old center at 2450 E. FM 2094 in League City, about 25 miles southeast of Houston.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.