Monday, June 29, 2015

HFF closes sale of and secures acquisition financing for industrial building with a long-term lease in Houston, TX


8787 Wallisville Road, Northeast Houston, TX

Rebecca Tudor
HOUSTON, TX, June 29, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of and secured acquisition financing for 8787 Wallisville Road, a single-tenant, 126,821-square-foot industrial distribution facility 100 percent leased to Briggs Equipment in northeast Houston, Texas.

HFF arranged the sale of the property on behalf of the seller, Twinrose Investments.  TMT Wallisville Investments, LLP purchased the asset for an undisclosed amount. 

Additionally, working on behalf of the new owner, HFF arranged the 10-year, fixed-rate acquisition loan through Deutsche Bank and will service the securitized loan.

Located at 8787 Wallisville Road, the building has been occupied by Briggs Equipment, one of the oldest materials handling equipment producers in the U.S., via an absolute net lease since the building was completed in 1975. 

Renovated in 1995 and again in 2006, the facility has 28’ clear heights and 24 exterior doors, including 10 truck wells.  One third of the building has office finish in the mezzanine level, and there are 142 parking spaces. 


Trent Agnew
The facility is situated on a 10.1-acre tract in the southwest quadrant of the intersection of Interstate 610 (Houston’s north loop) and Highway 90, with frontage on both Highway 90 and Wallisville Road. 

Additionally, the asset is within six miles of multiple major transportation modes including Interstate 10; two rail yards, Union Pacific Englewood Yard and PTRA North Rail Yard; and the Houston Ship Channel.  

The HFF investment sales team representing the seller was led by senior managing director Rusty Tamlyn, director Trent Agnew and real estate analyst Wesley Hightower.

The HFF debt placement team representing the new owner was led by managing director Steve Heldenfels and real estate analyst Joe Lerer.

“Twinrose has worked with HFF on purchase, sale and financing transactions throughout its company history,” said Rebecca Tudor, principal of Twinrose Investments. 

“We are always pleased with the quality of the lenders and investors that HFF introduces to a transaction as well as the professionalism of the debt and investment sales teams from marketing and underwriting, to closing.”

     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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