CBRE National Retail Partners Arrange Sale of 189K-SF Shopping Center in Southeast Houston

CBRE announced the sale of Baybrook Passage, a 189,334-sq.-ft. shopping center located at 19425 Gulf Fwy in Webster, Texas.

Mark Witcher, Jolie Duhon, Chris Cozby, Jim Batjer and Harrison Tye with CBRE National Retail Partners arranged the transaction on behalf of the seller, Gulf Coast Commercial Group. The buyer, SLS Properties was self-represented.

The shopping center was built in 2003 and is anchored by Best Buy and Staples. Additional tenants include Boot Barn, Skechers, and Memorial Hermann, as well as a national roster of food & beverage, medical and service-oriented retailers. At the time of sale, the property was 97.2% occupied by 29 tenants with an average tenure of 18 years.

“Baybrook Passage’s hard corner location at a mall-anchored intersection resulted in strong leasing momentum for the prior owners, with lease commitments totaling 40,535 square feet since 2023,” said Mark Witcher, a Senior Vice President at CBRE in Houston. “These fundamentals, combined with the market rent growth and inclusion of the freestanding pads and multi-tenant outparcels, present the new owner with the opportunity to generate enhanced returns going forward.”

Situated at the intersection of I-45 and Bay Area Boulevard, the shopping center is adjacent to Baybrook Mall and more than 3.8 million square feet of retail along the corridor. The location sees 30 million visitors annually with direct exposure to 210,000 vehicles per day, according to CBRE.