Stratiq Capital, a private equity company, announced today they have acquired 1219 Shepherd Drive, and the asset will be managed by Lumicre, a leading full suite commercial real estate brokerage firm. The 15,000 square-foot asset was built in 1982 and renovated in 2018. There is ample parking and it sits on .44 acres. The seller was 1219 Shepherd, LLC, and Jennifer Woods, Chief Financial Officer, Giovanna Marquis, Investment Sales Manager, Shannon Dubuc, Executive Assistant, Dawn Moore, Accounting Manager, and Victoria Huebel, Landlord Service Manager, all with the Lumicre Houston office, assisted with the brokerage of the transaction.
The asset is strategically positioned in the Washington Corridor, the pinnacle of the Houston food scene, on major thoroughfares Shepherd Drive and Durham Drive. The region boasts vibrant nightlife, dense multifamily properties, and busy professionals. Other market demand generators nearby include Downtown Houston and the tenants have direct access to Interstate 10 and Interstate 45.
With the property being at 100 percent occupancy, Stratiq Capital has planned to build out a 2,600 square foot vacant space to be developed into a ghost kitchen. The facility currently has three kitchens and will continue to capitalize on the service industry.
Stephen Edworthy, Treasurer and Chief Financial Officer at Stratiq Capital, shared some insights regarding the growth of this new acquisition. Edworthy stated, “Our team is excited to acquire this unique asset in the heart of the Washington Corridor.” He continued, “We project our investment will continue to perform above market expectations and provide our investors with significant cash flow.”
About Lumicre
Lumicre is a Texas-based commercial real estate brokerage firm and has offices located in Houston, Dallas, and Austin. The firm has offered a suite of services including analyzing investment acquisitions and dispositions, property management, and advisory for more than two decades. Their unique fast-paced, client-focused approach sets them apart from their competition and they have garnered repeat and satisfied investors.
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