Houston — Marcus & Millichap has arranged the sale and financing of Beechnut Village, a 62,990-square-foot retail center located in Houston. The property — which was fully leased at the time of sale — features 15 tenants operating on a triple-net lease basis, including medical offices, discount retailers and food and beverage businesses. La Michoacana Meat Market anchors the center. Scott Abeel and Philip Levy of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller and procured the buyer, a local private investor, in the transaction. Jamie Safier of Marcus & Millichap Capital Corp. (MMCC), secured $7.5 million in third-party acquisition financing on behalf of the buyer. The loan carries a fixed interest rate of 6.5 percent and a 65 percent loan-to-value ratio.
Beechnut Village in Houston, Texas, totals 62,990 square feet and houses 15 tenants including medical offices, discount retailers and food and beverage businesses.
Marcus & Millichap Arranges Sale, Financing of 62,990-Square-Foot Retail Center in Houston
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