California 1031 Buyer Pays $7.5MM for 9,000 SQFT Fogo de Chão Building on Katy’s Grand Parkway

A California investor completing an all-cash 1031 exchange paid $7.5 million, or about $875 per square foot, for the freestanding Fogo de Chão restaurant at 222 W. Grand Parkway in Katy, picking up a 2017-built building with more than 13 years left on its triple-net lease.