Newport Beach, CA (January 17, 2024) – SRS Real Estate Partners announced today it has completed the $10.26 million sale of a newly developed 63,224-square-foot single-tenant retail property occupied by Academy Sports + Outdoors. Situated on approximately six acres, the property is located at 1041 Nolan Street in Brenham, TX.
SRS Capital Markets Managing Principals Matthew Mousavi and Patrick Luther represented the seller, a Texas-based developer, as well as the buyer, a San Antonio-based private investor.
“This property recently opened its doors for business and has a 15-year, corporate-guaranteed lease in place that provides the new ownership with limited landlord responsibilities,” said Mousavi. “Investors continue to seek cash-flowing assets with long-term leases in places that are located in growing areas like Brenham.”
The City of Brenham is strategically located between Austin and Houston. Academy Sports is within Market Square Brenham, a 51-acre development that will feature 125,000 square feet of retail space and more than 200 multifamily units.
In 2023, SRS Capital Markets completed approximately $2 billion in deal volume comprised of 495 transactions in 43 states. SRS currently has in excess of 600 properties actively on the market with a market value surpassing $2.85 billion.
About SRS Real Estate Partners
Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with more than 25 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.