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| Centre at Cypress Creek, 20455, 20465, 20475 State Highway 249 and a 245,094-square-foot flex industrial/office property at 11777 Compaq Center Drive, Houston, TX |
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| Rusty Tamlyn |
HOUSTON, TX – HFF announced today that it has closed the
sale of Centre at Cypress Creek, a four-building office and industrial
complex totaling 465,716 square feet in northwest Houston, Texas.
HFF
marketed the properties on behalf of Principal Real Estate Investors. SG Cypress Real Estate Ventures purchased
the assets for an undisclosed amount, free and clear of existing debt. Coventry Investment Group, Inc. and Coventry
Realty Advisors acted as consultant to SG on the transaction.
Centre
at Cypress Creek is comprised of three office buildings totaling 220,622 square
feet located at 20455, 20465, 20475 State Highway 249, and a
245,094-square-foot flex industrial/office property at 11777 Compaq Center
Drive.
The office space is 93.6 percent leased to tenants including
Gexa Energy, FoxConn, Intel Americas, and Noble Energy and the industrial space
is fully occupied by FoxConn.
Building amenities include three parking garages, a
cafeteria, auditorium, jogging trails and picnic areas. The Centre at Cypress Creek is located
within the former HP Compaq Computer Campus, a 300-acre office park fronting
Highway 249 in northwest Houston.
The
HFF investment sales team representing the seller was led by senior managing
directors Rusty Tamlyn and Jeff Hollinden.
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| Jeffrey Hollinden |
Principal Real Estate Investors manages or subadvises $48.7
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®.
Coventry is a full service real estate company with expertise
in the acquisition and operation of Class A and B office buildings for pension
funds, institutional investors and private equity sources.
Over the course of 30 plus years, Coventry
has owned and operated, or developed, 22 buildings and more than 4.5 million
square feet of office space, primarily in Texas.
Additionally, Coventry has managed, on a third party basis, an
additional 3.4 million square feet of commercial real estate.
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
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