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Transwestern brokers purchase of Houston-Area property

San Antonio, Texas — Transwestern’s San Antonio office today announced that it has completed the sale of Rosenberg Center in Rosenberg, Texas, a suburb of Houston. Built in 1986, the 113,430-sq.-ft. neighborhood retail center serves a commercial corridor between Rosenberg and Richmond, Texas. A private investor bought the property for an undisclosed amount from Rosenberg Station LLC.

“Our client was in the market for an asset with a value-add component and found it in the Rosenberg Center, which had been on the market for some time,” said Andy Besing, a Transwestern senior associate who represented the buyer.

As a result of Fort Bend’s economic growth, Rosenberg’s retail market has seen an overall occupancy boost in the last year. Retail rents are positioned for growth and the overall outlook is set to accelerate with robust job creation and greater consumer spending. Fort Bend is the fast-growing county of the 10 largest counties in Texas and is also the 14th fastest growing in the country.

© 2014