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- NAS successfully delivered a buyer for a single tenant retail location in Baytown, TX. The property includes a 30,038 square-foot building and is 100% leased to Best Buy Co., Inc. The asset was purchased by a 21-member tenants-in-common group in October 2005.
- Market valuation of the property was secured in 2020, as NAS negotiated a five-year lease renewal with two additional five-year options with the tenant.
- The market value of the asset was further enhanced in 2021 as the property was upgraded with the installation of a new roof overlay system and fresh painting of the exterior.
- To facilitate a timely closing, the NAS team, which has a wealth of experience and possesses a unique level of expertise with TIC-structured properties, expeditiously worked through a myriad of issues that challenged co-owners’ preparation for closing the sale transaction.
- Constructed in 2005, the Best Buy Baytown property is situated on approximately five acres and located about 25 miles east of downtown Houston. The property offers 216 spaces for customer parking.