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| Sam Houston Crossing I, 10343 Sam Houston Park Drive, Northwest Houston, TX |
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| H. Dan Miller |
HOUSTON, TX – HFF announced it has closed the sale of Sam
Houston Crossing I, a Class A office building totaling 159,175 square feet
in northwest Houston, Texas.
HFF marketed the property on
behalf of the sellers, Duke Realty Corporation and Chambers Street Properties.
SH Crossing I, LP, a joint venture between Fuller Realty Partners, LLC &
Independencia, acquired the property.
Sam Houston Crossing I is located in Houston’s West Belt
Corridor off of the Sam Houston Parkway (Beltway 8) between the Northwest
Freeway (U.S. 290) and Highway 249 at 10343 Sam Houston Park Drive.
The three-story building was completed in 2007 with a
typical floor plate offering 53,000 square feet of rentable space.
The building is 100 percent leased to six
tenants, including U.S. Steel; Farmers Insurance Exchange; C.H. Robinson
Project Logistic; Brock Enterprises, Inc.; Axon EP, Inc.; and AMEC Oil &
Gas, Inc.
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| Martin Hogan |
The HFF investment sales team representing
the seller included senior managing director H. Dan Miller, director Martin
Hogan and real estate analyst John Rogers.
“Sam Houston Crossing I offers investors a stable current
yield while providing significant upside potential,” Hogan said.
“The building accommodates higher density
tenants looking for a high profile location with Beltway 8 frontage, efficient,
rectangular floor plates and a 5/1,000 parking ratio.”
Duke Realty Corporation owns, maintains an interest in or
has under development approximately 156.5 million rentable square feet of
industrial and office assets, including medical office, in 22 major U.S.
metropolitan areas.
Duke Realty
Corporation is publicly traded on the NYSE under the symbol DRE and is listed
on the S&P MidCap 400 Index. More
information about Duke Realty is available at www.dukerealty.com.
Chambers Street Properties is a real estate investment trust
focused on acquiring, owning and operating net leased industrial and office properties,
leased to creditworthy tenants.
As of
September 30, 2014, Chambers Street owned or had a majority interest in 129
properties located across 20 U.S. states, France, Germany and the United
Kingdom encompassing approximately 36.3 million rentable square feet. For
additional information, please visit www.ChambersStreet.com.
Fuller Realty Partners, LLC was established in 1979 and is a
privately owned, full service commercial real estate firm headquartered in
Houston, Texas. Learn more at www.fuller-realty.com
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
tel (main) 617-338-0990 | (direct) 617-848-1572 | cel
617.543.4873 | www.hfflp.com
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