Mason Creek I, 21420 Merchants Way, Katy, TX |
Robert Williamson |
HFF marketed the property on behalf of the seller, a Boston-based institutional real estate advisor. Nicola Crosby Real Estate, a Canadian investor, purchased the asset for an undisclosed amount.
HFF also worked on behalf of the buyer to secure the five-year, fixed-rate acquisition loan through Principal Real Estate Investors.
Developed by
Myers Crow & Saviers, Ltd., in 2013, Mason Creek I was the first office
building to be developed within the 110-acre Mason Creek Corporate business
park in Katy, about 30 miles west of Houston’s central business district.
The property
is situated on a 10.8-acre site at 21420 Merchants Way and is fully leased on a
net basis to GEICO, who selected Katy over other Texas cities and other areas
in Houston as the location for its new regional claims processing center.
Jeffrey Hollinden |
Myers
Crow & Saviers just completed the development of Mason Creek II, a
three-story, 127,000-square-foot office building and has plans for a third
office building that will largely build-out the park.
The HFF
investment sales team representing the seller was led by senior managing
directors Robert Williamson, Jeff
Hollinden, Dan Miller and Rusty Tamlyn.
HFF’s debt
placement team led by director Cortney
Cole represented the buyer/borrower.
“Mason Creek
has benefited from the tremendous growth in the Katy area, not only in terms of
population but office, retail, residential and commercial development as well,”
said Williamson. “Large national tenants
such as GEICO are drawn to the area due to its unrivaled access to a highly educated
labor pool and attractive residential communities with award winning school
systems.”
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
krmurphy@hfflp.com
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