Houston, Texas — Baker Katz has acquired four retail properties throughout the greater Houston area — in the neighboring cities of Port Arthur, Lake Jackson, Beaumont and Tomball.
The Port Arthur property is a 90,000-sq.-ft., single-tenant building purchased from the Sutherland Lumber Co. for an undisclosed amount. Baker Katz plans to renovate the building and convert it to a multi-tenant space. Hobby Lobby has signed a 58,000-sq.-ft. lease, and Party City has signed a lease for 13,000 sq. ft.
In Lake Jackson, Baker Katz acquired a 2.5-acre property with a 10,000-sq.-ft. restaurant currently occupied by Ryan’s Steakhouse.
The Beaumont property is 1.26 acres. A Chinese restaurant previously occupied the site. The company plans to tear the existing building down and rebuild a multi-tenant shopping center with a fast-food pad.
The fourth property is located in Tomball. The parcel, formerly home to a gas station, is just under three-quarters of an acre. Baker Kat purchased the tract from the gas station operator and plans to build a small retail center on the site. The new center will support a large retail center across the street, which Baker Katz purchased in 2010.
Baker Katz is a full-service commercial real estate brokerage and an X Team International partner. X Team is an international alliance of retail real estate specialists with offices located in major cities throughout the U.S., Canada and Europe.