Tuesday, June 18, 2019

HFF closes sale of Three-building industrial portfolio in northwest Houston, TX


Kempwood Tech Center includes three Class B flex industrial warehouse buildings totaling 113,117 square feet in Houston’s Northwest industrial submarket.

HOUSTON, TX –– HFF announces that it has closed the sale of Kempwood Tech Center, three Class B flex industrial warehouse buildings totaling 113,117 square feet in Houston’s Northwest industrial submarket.

HFF marketed the property in conjunction with Ten-X on behalf of the seller, special servicer LNR Partners, LLC.  CG7600 LP purchased the assets.

Martin Hogan
Situated on 7.18 acres at 2700-2778 Bingle Road, the portfolio is located at the signalized corner of Bingle and Kempwood Roads proximate to two of Houston’s busiest freeways, Interstate 10 and U.S. Highway 290. 

The portfolio is in Houston’s Northwest Industrial submarket, which is the largest submarket in Houston by square footage and home to the largest concentration of institutional ownership in the city. 

Home to two tenants, the one-story buildings feature between 14- and 16-foot clear heights, 30 grade-level loading doors and varying amount of office space.

The HFF investment advisory team representing the seller was led by senior director Martin Hogan and real estate analyst Charles Strauss.

“Kempwood Tech Center is an exceptional opportunity for an investor to reposition older assets in one of Houston’s largest and best-performing industrial submarkets,” Hogan said.

Charles Strauss
Scott Wilkerson, an in-house broker for Garver Real Estate, handled the acquisition for the buyers.

Holliday GP Corp. ("HFF") is a Texas licensed real estate broker.

About Garver Real Estate 

Garver Real Estate is a privately owned real estate investment and management company.  The company was created by C.M. Garver, a Houston real estate broker and engineer. 

Mr. Garver has owned and operated a civil construction company BRH Garver Construction and has been a real estate investor for over 45 years. 


CONTACTS:

MARTIN HOGAN
TX Lic. #0538781
HFF Senior Director
(713) 852-3500

KIMBERLY STEELE
HFF Digital Content/Public Relations Specialist
(713) 852-3420


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