HOUSTON-BASED CRE TEAM FINDS SWEET SPOT WITH OFF-MARKET, VALUE-ADD PROPERTIES

HOUSTON, TEXAS, UNITED STATES, February 2, 2023 /EINPresswire.com/ -- Since the formation of Main Street Commercial Partners last year, the Houston-based commercial real estate and development firm has racked up a dozen acquisitions in its metro area. Recently completed deals include the purchase of a prime slice of the now shuttered Gulf Greyhound Park in La Marque, plus the off-market procurement of a Golden Corral restaurant located in a high demand/low supply Humble retail corridor at 9663 FM 1960 Bypass Road W.

Located along a dynamic stretch of Interstate 45, the Greyhound property boasts 1,000 feet of frontage on FM 1764 and freeway visibility. It is now being marketed as five pad sites, along with a future 20,000 square feet of multi-tenant retail space. Serving southeast Houston, the development is adjacent to Walmart, Sam’s Club, Mainland City Centre (formerly Mall of the Mainland) and multiple, high-performing fast food chains.

Other creative, off-market acquisitions in 2022 range from a Denny’s restaurant on Highway 146 N in Texas City and a storage facility at FM 1093 and Bois D'Arc lane in Fulshear to a former hardware store in the heart of Kingwood.

The seasoned Main Street Commercial Partners team, which is newly headquartered just inside the 610 Loop at 520 Post Oak Blvd., currently consists of six, and the intent is to maintain the boutique size.

“Our forte is leading market knowledge, and we are a patient, risk-calculated crew with strong resources. That combination has served us well in identifying and locking down underutilized, mostly off-market properties with great long-term upside,” said partner Neal Wade, whose focus is providing value for the company’s investors via the purchase and redevelopment or construction of shopping centers, as well as asset management.

In addition to Wade, the trio of founding partners encompasses broker Scott Gardner, who leads tenant rep efforts for top brands such as Discount Tire, Frost Bank, Planet Fitness, Brew Coffee and Whataburger Restaurants, plus Anderson Smith, who co-develops the firm’s new-build projects – including oversight of master planning and construction – and manages the leasing and marketing strategy for company-owned and third-party assets. Landlord rep clients include Houston-based Gulf Coast Commercial Group and Crow Holdings of Dallas.

Further adding to the team’s expertise are Connor Lynch and Brett Levinson. Lynch manages project representation for Main Street Commercial Partners and third parties, as well as tenant representation for regional and national brands, while Levinson handles retail project leasing, tenant representation and land sales for local, regional and institutional clients.

According to Smith, “With the majority of us at mid-career, we’re essentially at a perfect age for what we’re doing. Given our extensive experience with due diligence over the years, we can assess opportunities quickly and effectively, which has made us a resource for clients and friends in the industry who are considering purchases.

“We also have the benefit of longtime friendships in the tenant rep space given that many of us got our start in the business at the same time,” added Gardner.

He notes that Houston continues to be a city of incredible opportunities, and all of us at Main Street Commercial Partners appreciates the camaraderie of that exists in the commercial real estate space here compared to other cities.

Sarah Tucker
Public Content
saraht@public-content.com