Saturday, January 24, 2015

HFF closes sale of and secures financing for office building in West Houston, TX

9990 Richmond Avenue, Westchase District, Houston, TX

H. Dan Miller
HOUSTON, TX – HFF announced it has closed the sale of and secured acquisition financing for a 186,964-square-foot office building located at 9990 Richmond Avenue in the Westchase District of Houston, Texas.

                HFF marketed the property on behalf of the seller, a joint venture between Fuller Realty Partners, LLC and Harbert Management Corporation.

 Rockwell Management Corporation purchased the property free and clear of debt.  HFF also secured a 10-year, fixed-rate acquisition loan on behalf of the new owner through Natixis Real Estate Capital, Inc. 

                9990 Richmond Avenue is situated on 5.66 acres at the northeast corner of Richmond and Briarpark in Houston’s Westchase District one half mile from the Sam Houston Tollway (Beltway 8). 

The four-story building has an attached three-story parking garage and underwent several upgrades from 2011 to 2014, including renovating the lobby. 

Martin Hogan
The asset is currently 92.2 leased to a variety of tenants, including Seismic City, Costello, Norris Conference Centers, U.S. Navy Recruiting, DBR Engineering and Selene Finance. 

                The HFF investment sales team representing the seller was led by senior managing director H. Dan Miller, director Martin Hogan and real estate analyst Wesley Hightower

The Natixis Real Estate Capital, Inc. team was led by Vishal Vanjani and Brian Staley. 

                The HFF debt placement team representing the buyer was led by managing director Colby Mueck and real estate analyst William Crawley.

                “9990 Richmond is a unique asset in that it provides for a 4.5/1,000 parking ratio in a precast concrete parking garage and offers efficient, 50,000-square-foot floor plates on the top two floors,” Hogan said.

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

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 |

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