Secure Net Lease Closes Black Bear Diner Sale in Houston MSA
Garrison Berkley & Bob Moorhead Represent Seller in Smooth 1031 Exchange Transaction
Secure Net Lease has successfully completed the sale of a freestanding Black Bear Diner located in Baytown, Texas, just east of Houston. The property was acquired by a California-based all-cash 1031 exchange buyer, underscoring continued investor demand for high-quality restaurant assets in rapidly growing Houston-area submarkets.
Garrison Berkley, who represented the seller, shared, “The buyers on this deal were California-based investors completing a 1031 exchange, and they were really attracted to the Black Bear Diner concept and the strength of the location. Once we got the property under contract, the transaction moved along pretty smoothly. They were waiting on another sale to close so they could roll those exchange funds into this acquisition, and everything lined up exactly as planned. They also made a trip out for a site visit, and once they saw the property in person, it really reinforced their confidence in the investment. Overall, it was a smooth process and a great outcome for both the buyer and the seller.”
The ±4,987-square-foot Black Bear Diner is strategically positioned at the northwest corner of Interstate 10 and John Martin Road, approximately 20 miles east of downtown Houston. The site benefits from exceptional visibility with traffic counts exceeding 93,000 vehicles per day along Interstate 10 and is situated directly across from a Buc-ee’s travel center, one of the region’s strongest retail traffic generators. The property is also surrounded by numerous nationally recognized retailers, including Chick-fil-A, H-E-B, Academy Sports + Outdoors, Marshalls, Kroger, and several automotive dealerships, creating a vibrant retail corridor with strong daily consumer activity.
Baytown continues to benefit from its location within the Houston-The Woodlands-Sugar Land Metropolitan Statistical Area, the fifth-largest metropolitan area in the United States. The property is located less than half a mile from the San Jacinto Marketplace, a major mixed-use retail and entertainment development that is expected to further strengthen the area’s retail appeal. Supported by more than 96,000 residents within a five-mile radius and projected population growth over the coming years, the surrounding market offers strong demographics, high household incomes, and excellent long-term fundamentals for retail investment.
Black Bear Diner has grown into one of the nation’s most recognizable full-service restaurant brands, operating more than 150 locations across the United States. Known for its large-format family dining concept, loyal customer base, and continued national expansion, the brand has established itself as an attractive tenant for net lease investors. With a proven operating model and ongoing growth strategy, Black Bear Diner continues to generate strong interest from buyers seeking stable, long-term restaurant investments.
About Secure Net Lease
Secure Net Lease is a nationally recognized brokerage firm with offices in Dallas, TX and Los Angeles, CA that specializes in the acquisition and disposition of investment real estate. With over 100 years of collective experience, over $7.4B in sales, and transaction history in 48 states, Secure Net Lease consistently ranks among the top 10 of all brokerage firms nationally within their niche. Secure Net Lease works with developers, tenants, private and institutional owners to achieve market-setting cap rates for single- and multi-tenant net lease investments across the nation. Historically, 88% of Secure Net Lease offerings are new construction leased to nationally known tenants with 10+ years remaining on the primary term.
