Seller Zat Co. of Houston was the developer of the now fully leased, four-year-old asset, Jerry Goldstein in the local office of Marcus & Millichap tells GlobeSt.com. He and Marcus & Millichap's James Bell negotiated the transaction. The seller, Goldstein adds, built several shopping centers on the west side a few years ago and is now selling them.
Located on about three-fourths of an acre at 14838 Park Row, Goldstein says the strip center stayed on the market about two months with a $1.4-million list price. The buyer, Park Row LLC, paid cash for the property, assessed at $839,980 by Harris County.
The service-oriented tenant base includes Mexican restaurant and dry cleaners. Goldstein says Park Row center fulfills a vital role since it is one of the few small shopping centers in an area populated with office space and apartments.
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