Hartman Development Fund Purchases a Note Collateralized by Houston Retail Center (Fondren)

Al Hartman of Hartman Income REIT, Inc., a Houston based Real Estate Investment Trust, announced today that Hartman Development Fund, LLC. an affiliate, has purchased a note collateralized by Fondren Road Plaza Shopping Center from LNR Partners LLC.

Fondren Road Plaza Shopping Center– a 93,396 square foot, single building retail center located at the corner of Fondren and Bissonnet, in Houston Texas.

Lead tenants at Fondren Road Plaza include:

  • Pizza Hut: an American and International restaurant franchise that offers different styles of pizza along with side dishes including salad, pasta, buffalo wings, breadsticks, and garlic bread.
  • Ace Cash Express: a regional payday advance lender.
  • H&R Block: a tax preparation company in the United States, claiming more than 24.5 million tax returns prepared worldwide and also offers banking, personal finance and business consulting services.

Auction.com represented the seller LNR Partners LLC. and Dave Wheeler and Julian Kwok, CCIM represented the buyer, Hartman Development Fund, LLC.


Hartman Income REIT’s existing Portfolio

Hartman Income REIT, headquartered in Houston, Texas, is a $330,000,000 Real Estate Investment Trust which owns and/or manages 34 properties with 4,770,000 square feet of office, industrial and retail space. Our properties are located in Houston, Dallas and San Antonio, Texas. For more information, please contact Al Hartman at 713-467-2222.

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