Sale of Houston’s Oak Park Office Center III closed by HFF

HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) has closed the sale of Oak Park Office Center III, (bottom left photo) a 151,000-square-foot office building in Houston’s Westchase submarket.

HFF senior managing directors Robert Williamson (top left photo) and Jeff Hollinden (middle right photo) and associate director Barbara Guffey (top right photo) led the investment sales team on behalf of the seller, Realty Associates Oak Park III, L.P.

Grubb & Ellis Realty Investors, LLC purchased the property free and clear of debt for an undisclosed amount.

Situated on an 11.4-acre site at 6001 Rogerdale Road, Oak Park Office Center III is within the Oak Park at Westchase office park close to the intersection of Beltway 8 and the Westpark Tollway in Houston.

The two-story property was developed by Myers Crow & Saviers, Ltd. in 2008 and is fully leased to Jacobs Engineering for a 10 year term. HFF also arranged the prior sale of Oak Park Office Center I and II on behalf the same development team in 2004 and February 2008.

Myers, Crow & Saviers, Ltd. is a real estate development and investment firm focusing on the development of office and industrial buildings in Houston, the Dallas/Fort.Worth metroplex and San Antonio.

Grubb & Ellis Realty Investors, the real estate investment and asset management subsidiary of Grubb & Ellis Company, offers a full range of commercial real estate investment programs.

Grubb & Ellis Realty Investors and affiliates manage a growing portfolio of assets valued in excess of $5.7 billion located across 30 states.

HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.

HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing. http://www.hfflp.com/.

CONTACTS:

Robert E. Williamson, HFF Senior Managing Director, 713 852 3500, rwilliamson@hfflp.com

Jeffrey A. Hollinden, HFF Senior Managing Director, 713 852 3500, jhollinden@hfflp.com

Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com