Tuesday, May 20, 2014

HFF closes sale of Oak Park Office Center III in Houston’s Westchase district


Oak Park Office Center II, Westchase district, Houston, TX


HOUSTON, TX – HFF announced today that it has closed the sale of Oak Park Office Center III, a 151,000-square-foot office building in Houston’s Westchase district.

Robert Williamson
               HFF marketed the property on behalf of the seller, Daymark Realty Advisors.  111 Realty OPO, LLC, a real estate investment company led by Mallick Group, Inc. and Keating Investments, purchased the asset for an undisclosed amount. 

Acquisition financing was arranged separately by 111’s relationship lender; International Bank of Commerce - Houston (IBC Bank). 

               The property is located between Rogerdale Road and Sam Houston Parkway (Beltway 8) within the 225-acre, master planned Oak Park at Westchase Business Park. Completed in 2008, the two-story building is 100 percent occupied by global engineering giant CB&I Inc. 

               The HFF investment sales team representing the seller was led by senior managing director Robert Williamson and director Trent Agnew

“Oak Park Office Center III was a highly sought after offering due to its strategic West Houston location, excellent visibility from Beltway 8 and investment-grade tenancy,” said Williamson.

Trent Agnew
Mallick Group, Inc. is a real estate and energy related investment firm based in Fort Worth, Texas and Keating Investments is a real estate and energy related investment firm based in Oklahoma City, Oklahoma. 

Other notable real estate transactions related to the purchaser include the 2012 $200 million acquisition of a triple net-leased property portfolio located in North Texas, and the 2010 acquisition of the 104-acre land tract located on Interstate 610 across from Reliant Park in Houston, where the Six Flags AstroWorld amusement park once stood.

IBC Bank – Houston is a division of International Bancshares Corporation (NASDAQ IBOC), a $12.1 billion multi-bank financial holding company headquartered in Laredo, Texas, with over 210 facilities and more than 320 ATMs serving 88 communities in Texas and Oklahoma. 

  IBC Bank – Houston has been serving the area since 1997 and has a retail branch network of 19 locations.  Visit us on our YouTube channel, IBCBankWeDoMore.


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


.

No comments: