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| 8787 Wallisville Road, Northeast Houston, TX |
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| 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.
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| 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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