Saturday, November 24, 2012

Sale of Woodlands, TX office property closed by HFF



2001 Timberloch, Woodlands, TX
HOUSTON, TX – HFF announced it has closed the sale of 2001 Timberloch, a 145,580-square-foot office building in The Woodlands, Texas.

                HFF marketed the property on behalf of the seller, CBRE Global Investors advising on behalf of CalSTRS.  Principal Real Estate Investors purchased the asset for an undisclosed amount.

                2001 Timberloch is situated on an 8.1-acre site in the mixed-use Town Center of the Woodlands development in The Woodlands.  Renovated in 2007, the property is fully leased to tenants Repsol USA and Entergy Services. 

Dan Miller
 The HFF investment sales team representing the seller was led by senior managing director Dan Miller and associate director Trent Agnew.

“While 100 percent leased at the time of sale, it is expected that a 90,000-square-foot tenant will vacate in April 2015 representing a rare opportunity to purchase a value-add office building in Houston’s best performing submarket,” said Miller.

                The California State Teachers’ Retirement System, with a portfolio valued at $155.4 billion as of September 30, 2012, is the largest teacher pension fund and second largest public pension fund in the United States. 

Trent Agnew
CalSTRS administers a hybrid retirement system, consisting of traditional defined benefit, cash balance and defined contribution plans, as well as disability and survivor benefits. CalSTRS serves California's 856,000 public school educators and their families from the state’s 1,600 school districts, county offices of education and community college districts.

Principal Real Estate Investors manages or sub advises $42.7 billion in commercial real estate assets. The firm’s real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.

 Contact:

Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 |

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