Sellers Bros Grocers Sells Four Stores, Market briefs

In Houston, Reliable Properties has purchased a portfolio of four Sellers Bros. grocery store properties in Houston and Pasadena.

The stores, sold by Sellers Bros Investments Ltd., will continue to operate as Sellers Bros. grocery stores, as stated by Rockspring Properties.

Cotton Munson, Mike Axelrad, and Aimee Namakarn of Rockspring Properties brokered the sale. The properties, which are leased on absolute triple-net terms, are located in established, densely populated neighborhoods on Houston’s south and east sides.

“This was a unique portfolio because it combined established, income-producing grocery locations with significant underlying real estate in some of Houston’s long-standing neighborhoods,” said Cotton Munson of Rockspring Properties. “The opportunity attracted interest because of the strength of the locations, existing cash flow and the flexibility these properties provide for long-term ownership and potential future investment.”

The purchase consisted of:

• 2311 Strawberry Road, Pasadena (31,609-SF store 4.38 acres near Texas Highway 225)
• 8011 Elvera Street, Houston (37,537-SF store including office and warehouse facilities on 6.59 acres near Loop 610 and Interstate 45)
• 402 Edgebrook Drive, Houston (48,903-SF store on 6.44 acres near the Interstate 45 and Beltway 8)
• 601 N. Cesar Chavez Blvd. (27,497-SF store on 1.87 acres, including an additional parcel at 6640 Avenue F in the East End)

Founded by the George Sellers family, Sellers Bros. has 10 locations in the Houston area.