LandPark Advisors arranges acquisition of 116,700 SF Multi-Tenant Office/Flex Complex Located on Beltway 8 in Houston, Texas.
February 07, 17
Bill McGrath, CCIM and Peter Wall of LandPark Advisors, LLC represented Stone Mountain Properties in the acquisition of the Beltway 8 Office Flex Center in Houston, Texas. The property is an office flex/warehouse complex containing 116,700 square feet, located at 9920-9980 W. Sam Houston Parkway S. and situated along Sam Houston Parkway, just South of Bissonnet Street.
Constructed in 2005 and situated on 10.45 acres, Beltway 8 Office Flex Center is strategically located in a dynamic submarket with Beltway 8 frontage less than 1 mile from Interstate 69 (US Highway 59) and 3 miles from Westpark Tollway. The Property consists of four (4) multi-tenant office/industrial buildings with abundant parking. Exterior access doors are controlled by a monitored access control system with grade level loading with roll-up doors.
Beltway 8 Office Flex Center contains a well-diversified tenancy in terms of size, lease expiration and primary business industry. “This Property caught our attention due to the diverse, nationally recognized tenant mix,” according to Bill McGrath. “The Southwest is especially a sought after destination for local businesses given the immediate proximity to Interstate 69 and Beltway 8, a critical freeway in Houston serving as the main thoroughfare for major companies that want access to employees from the suburbs as well as quick access to the Houston freeway system.
This acquisition increases Stone Mountain’s commercial portfolio to over 1,080,000 square feet in Texas and New Jersey. In addition to its commercial portfolio, Stone Mountain has a multi-family portfolio of over 2,500 units and more than 120 acres of land.
LandPark Commercial was hired to provide both property management and leasing services on behalf of Stone Mountain Properties. For leasing information, please contact Will McGrath at 713-789-2200.