2912 Houston Hwy
Victoria, TX 77901
Popeyes Louisiana Kitchen · Retail Property For Sale

CBRE is offering to qualified investors the opportunity to purchase the fee simple interest in the portfolio of six (6) properties located in the Houston and Victoria, Texas MSAs (the "Portfolio"). The free-standing facilities are leased to CSM Group, Inc. ("CSM Group") operating as Popeyes Louisiana Kitchen, Inc. ("Popeyes"). CSM Group is a Houston-based management company which operates more than 20 Popeyes Louisiana Kitchen units across the Midwest region. Upon close, the Portfolio will operate under a brand new, fifteen (15) or twenty (20) year absolute NNN sale leaseback with six (6), 5-year options to extend. Houston, Texas is the country' s fourth-largest city and third-largest county (Harris). At the 2015 US Census, the nine-county Houston MSA had a population of 6,656,947 residents. The city continues to attract visitors and transplants with a wonderful mix of world-class arts, booming business, pro sports, and award-winning cuisine. As of Q1 2017, fundamentals in the Houston retail market are as strong as they've ever been occupancy is at 94.7%, rents are steadily increasing, and demand in 2016 reached a record high. Houston absorbed 182,000 square feet. in Q1 2017, the softest gain in six quarters. Unlike supply-laden office and multifamily sectors, the retail pipeline remains disciplined, adding to future stability while at the same time constraining growth. New developments continue to absorb big- and junior-box retailers in Q1 2017 these deals represented 363,000 square feet. This movement coupled with strong urban demand has led to climbing occupancy which increased by 40 basis points this quarter.