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| Rhonda Toming |
HOUSTON, TX – HFF announced it has closed the sale of Southwest
Corporate Center (SWCC), a 525,580-square-foot office complex in Houston’s
southwest/Beltway 8 submarket.
HFF
marketed the property on behalf of seller, TX 9700 Bissonnet LLC. Omninet Capital purchased the property for
an undisclosed amount on an all cash basis and closed in less than twenty days.
Southwest Corporate Center was transformed from the former
Westwood Mall and renovated in 2000. The property is 61.9 percent leased to
tenants including Stewart Lending Services, Texas Children’s Health Plan and
Corinthian College.
 |
| Rusty Tamlyn |
The two-story property is situated on more than 40 acres at
9700 Bissonnet Street close to the U.S. Highway 59 and Beltway 8 interchange,
and the Memorial Herman medical complex in southwest Houston.
The
HFF investment sales team representing seller was led by senior managing
director Rusty Tamlyn and Wesley Hightower along with Rhonda
Toming, formerly with HFF and now at Fischer Companies.
“OmniNet focused on this asset due to its size and scale and
the substantial value creation through lease up of the primarily secondary
generation vacancy.
“They moved at a very fast pace through their due diligence
and closing, and intend to keep CBRE on the asset for leasing and management in
the interim,” according to Tamlyn.
“Due to the current opportunities in the Texas markets,
Omninet has decided to allocate an additional $250,000,000 in Texas in the next
12 months,” said Michael Daniel, a partner with Omninet.
Omninet Capital is a private real estate investment firm based in Los
Angeles, with commercial properties located in Austin, Dallas and San Antonio
with SWCC being their first acquisition in Houston.
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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