CBRE Arranges Sale of Prominent Shopping Center in Webster, Texas

CBRE has arranged the sale of Baybrook Village, a 278,842 sq. ft. shopping center located at 1507 West Bay Area Boulevard in Webster, Texas. The property was acquired by Fidelis Realty Partners from O’Connor Capital Partners/Wafra for an undisclosed price.

Mark Witcher, Jolie Duhon, Jim Batjer, Chris Cozby, and Harrison Tye, with CBRE National Retail Partners represented the seller in the sale. Brent Crawford and John Fenoglio with CBRE’s Debt & Structured Finance group arranged financing on behalf of the buyer.

“Congratulations to the buyer team at Baybrook Village,” said Joshua Lerner, Senior Vice President of Asset Management at O’Connor Capital Partners. “I’m proud of our many accomplishments at Baybrook Village during our 10+ years of ownership. Together with Wulfe & Co. and Wafra, we’ve meaningfully improved the tenant roster with vibrant retail offerings, national tenant credit and compelling, local concepts for our visitors.”

Baybrook Village is anchored by a roster of national retail tenants, with recent leasing momentum driven by newly executed leases with Havertys, PGA Tour Superstore, Burlington, CAVA and other national and local retailers. Baybrook Village is situated within one of Houston’s most institutionally concentrated retail corridors and is immediately adjacent to Baybrook Mall, the state’s most‑trafficked shopping mall.

“Baybrook Village represented a rare opportunity to acquire a top-performing retail asset in one of the most dynamic and visited retail nodes in Texas,” said Witcher, a senior vice president at CBRE. “The center’s strong merchandising mix, recent anchor tenant additions and alignment to Baybrook Mall highlighted the offering, attracting wide interest from prospective buyers.”

The surrounding Webster retail footprint comprises more than 5 million sq. ft. of space, with more than 45 million annual visits, and boasts a 1.9% vacancy rate. The property was 99% occupied at the time of sale.