February 8, 2011
The Silver Group sells Wells Fargo Bank Ground Lease for $3.4 Million

The Silver Group announced today that Barry Silver represented the seller in the sale of a single tenant, Wells Fargo bank ground lease in Houston, Texas. The Property consists of a 31,000 s.f. parcel of land at the corner of Highway 59 and Bellaire Blvd. improved with a 4,000 s.f. retail building. Wells Fargo assumed the lease following its acquisition of Wachovia Bank, the original tenant. The Buyer is a Houston based family trust and the Seller was the property developer, Sharpstown Partners.

“This property was sold to a local family trust who appreciated the tenant’s credit and the location. They were attracted to the dense population and the exposure at the on ramp to busy Highway 59”, said Barry Silver.

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