Friday, February 3, 2017

Transwestern Development Co. Sells 340,000-SF Mason Creek Business Center in West Houston, TX

Rusty Tamlyn
HOUSTON, TX  – Transwestern Development Co.  announces the sale of Mason Creek Business Center, a four-building industrial property at 21201 – 21501 Park Row Drive in Katy, Texas.

 The Class A property was owned by a partnership between Transwestern Development Co. and AEW Capital Management L.P., acting on behalf of an institutional investor. An undisclosed buyer acquired the 339,900-square-foot property for an undisclosed amount.

“With the current strength of the Houston industrial market and the recent leasing momentum at Mason Creek Business Center, this was an ideal time to execute our disposition strategy,” said Pete Johnston, senior vice president at Transwestern Development Co. “The leasing team has done a tremendous job of marketing the property to attract high-quality tenants and make this asset a compelling opportunity for investors.”

Transwestern’s Darryl Noon and Jude Filippone have been retained by the new ownership to continue providing leasing services. Mason Creek Business Center is currently leased to a variety of tenants including Williams-Sonoma and Memorial Hermann.

Located in the West Houston Industrial submarket, Mason Creek Business Center is on the northeast corner of Interstate 10 and Mason Road, approximately a mile east of the Grand Parkway.

Trent Agnew
The park provides easy access to other major thoroughfares, including Highway 6, Westpark Tollway and Sam Houston Tollway. The buildings feature clear heights ranging from 24 to 28 feet, truck court depths from 130 to 190 feet, and cross dock and rear- and front-load layouts.

The ownership entity was represented by Rusty Tamlyn and Trent Agnew of Holliday Fenoglio Fowler L.P.

“Mason Creek Business Center received significant interest from investors due to the high occupancy of the overall Houston industrial market and the property’s location, quality, age and tenancy,” said Tamlyn.

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

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

No comments: