Marcus & Millichap Inc.
08/19/2026 | Press release | Distributed by Public on 08/19/2026 16:08
Marcus & Millichap Brokers $7.5M Sale of Net-Leased Restaurant in Katy, Texas
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Marcus & Millichap Brokers $7.5M Sale of Net-Leased Restaurant in Katy, Texas
August 19, 2026
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KATY, Texas, Aug. 19, 2026 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 222 W. Grand Parkway, a net-leased Fogo de Chao restaurant in Katy, Texas. The asset sold for $7.5 million, or $874.84 per square-foot.
"Well-located net-leased properties with strong tenants continue to be a favorite among California-based 1031 exchange buyers," said Alvin Mansour, executive managing director investments. "This property stood out because of its long-term lease, established tenant and location at the Interstate 10 and State Highway 99 interchange, with proximity to major retail and residential demand drivers."
Mansour and David Kern, investment specialists in Marcus & Millichap's San Diego office, had the exclusive listing to market the property on behalf of the seller, a developer. The buyer was a California-based investor completing an all-cash 1031 exchange.
Built in 2017, the 8,573-square-foot Fogo de Chão is situated on 1.5 acres near the Interstate 10 and State Highway 99 interchange in Katy. The property is located near Costco and other national retailers, restaurants and residential developments in the heart of the Katy submarket, part of the Houston-The Woodlands-Sugar Land metropolitan area. The property is subject to a long-term triple-net lease with more than 13 years remaining. The buyer plans to hold the property as a long-term investment.
"Well-located net-leased properties with strong tenants continue to be a favorite among California-based 1031 exchange buyers," said Alvin Mansour, executive managing director investments. "This property stood out because of its long-term lease, established tenant and location at the Interstate 10 and State Highway 99 interchange, with proximity to major retail and residential demand drivers."
Mansour and David Kern, investment specialists in Marcus & Millichap's San Diego office, had the exclusive listing to market the property on behalf of the seller, a developer. The buyer was a California-based investor completing an all-cash 1031 exchange.
Built in 2017, the 8,573-square-foot Fogo de Chão is situated on 1.5 acres near the Interstate 10 and State Highway 99 interchange in Katy. The property is located near Costco and other national retailers, restaurants and residential developments in the heart of the Katy submarket, part of the Houston-The Woodlands-Sugar Land metropolitan area. The property is subject to a long-term triple-net lease with more than 13 years remaining. The buyer plans to hold the property as a long-term investment.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit https://www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on August 19, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on August 19, 2026 at 22:11 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]