Tuesday, May 20, 2014

HFF closes sale of Oak Park Office Center III in Houston’s Westchase district

Oak Park Office Center II, Westchase district, Houston, TX

HOUSTON, TX – HFF announced today that it has closed the sale of Oak Park Office Center III, a 151,000-square-foot office building in Houston’s Westchase district.

Robert Williamson
               HFF marketed the property on behalf of the seller, Daymark Realty Advisors.  111 Realty OPO, LLC, a real estate investment company led by Mallick Group, Inc. and Keating Investments, purchased the asset for an undisclosed amount. 

Acquisition financing was arranged separately by 111’s relationship lender; International Bank of Commerce - Houston (IBC Bank). 

               The property is located between Rogerdale Road and Sam Houston Parkway (Beltway 8) within the 225-acre, master planned Oak Park at Westchase Business Park. Completed in 2008, the two-story building is 100 percent occupied by global engineering giant CB&I Inc. 

               The HFF investment sales team representing the seller was led by senior managing director Robert Williamson and director Trent Agnew

“Oak Park Office Center III was a highly sought after offering due to its strategic West Houston location, excellent visibility from Beltway 8 and investment-grade tenancy,” said Williamson.

Trent Agnew
Mallick Group, Inc. is a real estate and energy related investment firm based in Fort Worth, Texas and Keating Investments is a real estate and energy related investment firm based in Oklahoma City, Oklahoma. 

Other notable real estate transactions related to the purchaser include the 2012 $200 million acquisition of a triple net-leased property portfolio located in North Texas, and the 2010 acquisition of the 104-acre land tract located on Interstate 610 across from Reliant Park in Houston, where the Six Flags AstroWorld amusement park once stood.

IBC Bank – Houston is a division of International Bancshares Corporation (NASDAQ IBOC), a $12.1 billion multi-bank financial holding company headquartered in Laredo, Texas, with over 210 facilities and more than 320 ATMs serving 88 communities in Texas and Oklahoma. 

  IBC Bank – Houston has been serving the area since 1997 and has a retail branch network of 19 locations.  Visit us on our YouTube channel, IBCBankWeDoMore.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com


North American Properties Wins Four U.S. MAXI Awards at ICSC’s RECon Convention

Atlantic Station, Midtown Atlanta, GA

ATLANTA (May 20, 2014) – North American Properties (NAP) hit the jackpot in Las Vegas. The International Council of Shopping Centers’ (ICSC) presented the real estate company with two gold and two silver U.S. MAXI Awards during its RECon Convention, May 18, 2014 at the Encore Hotel in Las Vegas.

Mark Toro
 The U.S. MAXI Awards honor the highest caliber of premier marketing, community outreach, sales promotion, NOI enhancement and new media efforts within the U.S. retail real estate industry.

Atlantic Station, a mixed-use development located in the heart of Midtown Atlanta, won gold for event marketing and leasing and silver for cause related marketing.

Avalon, a $600 million mixed-use development in Alpharetta, Ga., which opens in October, won silver for public relations.

 “In addition to recognizing the achievements of our marketing program, the MAXI Awards celebrate the leasing and sales success we’ve experienced in recent years at Atlantic Station and Avalon,” said Mark Toro, managing partner of NAP.

“Sales are more than $140 per square foot higher at Atlantic Station than when we acquired the property and Avalon is 97 percent pre-leased with more than four months to go before it opens. These accomplishments are in part because of the strong marketing program we’ve established at NAP.”

Rendering of planned Avalon mixed-use development
Alpharetta, GA
Previously, North American Properties won gold for Atlantic Station’s excellence in public relations, event marketing and leasing and silver for best use of social media in 2012.

A complete list of winners can be found here, and photos from the event can be found online.

For a complete copy of the company’s news release, please contact:

Suong Nguyen
The Wilbert Group
404-343-0637 (O)
678-642-4301 (C)

CBRE Orlando Lists Midtown Centre Office Park for Sale in Jacksonvillle, FL

Ron Rogg
ORLANDO, FL, May 20, 2014 -- CBRE, as exclusive agent, is pleased to offer the Midtown Centre Office Park (“The Property”) for sale in Jacksonville located south of the central business district.

 This is an exceptional 49 acre, ±738,530 SF, master planned corporate business park.

The Property’s combination of upside potential, credit tenancy, predictable cash flow and the fact that it is unencumbered with debt provides an exceptional opportunity in today’s limited deal flow environment.

Its strategic location near the area’s largest employers and access to nearby Interstate 95 provides consistent tenant demand from some of the area’s most credit-worthy tenants. With Jacksonville’s job market recovering ahead of schedule, the Midtown Centre Office Park is an ideal investment opportunity.

For a complete copy of the company’s news release, please contact:

Ronald J. Rogg, CCIM
Executive Vice President
T +1 407 839 3194