HFF closes sale of eight-building industrial facility in Houston

HOUSTON, TX – HFF announced today that it has closed the sale of Commerce Center (top left photo), an eight-building, 256,265-square-foot industrial facility in Houston, Texas.

HFF marketed the properties exclusively on behalf of the seller, Insite Commercial Real Estate. Agarita Management purchased the properties for an undisclosed amount.

Acquisition financing was secured through American Family Life Insurance, which was arranged by Kirk Oden with Trinity Finance in San Antonio.

Commerce Center is located at 9000 Southwest Freeway close to Beltway 8/Sam Houston Tollway and the Westpark Tollway in southwest Houston. The property is leased to 40 tenants.

The HFF investment sales team representing Insite Commercial Real Estate was led by senior managing director Rusty Tamlyn (middle right photo) and associate director Trent Agnew (middle left photo).

InSite is a full service commercial real estate company with a focus of determining investment opportunities where value is maximized through disciplined execution of asset management, property management, and project leasing and ultimately providing significant returns for its clients.

garita Management Company, LLC, is a private equity real estate investment company focused on acquiring industrial real estate assets in Texas. Agarita’s principal is Ryan S. Smith who has over a decade of experience owning and operating industrial real estate assets in Texas. Since Agarita’s formation in May 2010, Agarita has acquired five industrial properties totaling 520,000 square feet. These assets are located in Ft. Worth, Houston and San Antonio.

Contacts:

RUSTY TAMLYN, CCIM, SIOR
HFF Senior Managing Director
(713) 852-3500
rtamlyn@hfflp.com

KRISTEN MURPHY
HFF Associate Director, Marketing
(713) 852-3500
krmurphy@hfflp.com