Torchy’s Tacos property in the Boardwalk at Towne Lake located at 9975 Barker Cypress Road in Cypress, Texas. The buyer, Melcher Investments, represented themselves in the acquisition as part of a 1031 Exchange. Todd Moore and Connor Duffy of Colliers represented the seller, CC Boardwalk I, L.P., in the transaction.
“This was an excellent transaction for both parties. This unique location at the Boardwalk is one not easily replicated. The Boardwalk development sees tremendous foot and vehicle traffic, and it’s not surprising that this is a top-performing location,” said Todd Moore, Principal of Colliers.
Boardwalk at Towne Lake is situated just north of Tuckerton Road along Barker Cypress Road. The Torchy’s Tacos retail property sits along the lake near the first entrance of Boardwalk at Towne Lake within a short distance of other retailers including Ambriza, Coco’s Crepes and World of Beer. This top-performing location is one of Torchy’s Tacos corporate chain’s top 5.
The property is located in Houston’s Bridgeland retail submarket. The submarket contains 4.7 million square feet of retail space which is currently 96.6 percent occupied. 60,600 square feet of new retail delivered in the last 12 months and there is 42,000 square feet of retail space currently under construction in the submarket.