LandPark Advisors arranges acquisition of Six-Story Office Building on the Southwest Freeway in Stafford, Texas.
January 10, 17
Bill McGrath, CCIM and Peter Wall of LandPark Advisors represented Stone Mountain Properties in the acquisition of 12603 Southwest Freeway in Stafford, Texas. The building is located in Stafford, Texas at the southwest corner of the Southwest Freeway and Kirkwood Road and consists of 143,211 square feet of net rentable area.
Constructed in 1981 and renovated in 2015, 12603 Southwest Freeway is a solid Class B+ six-story building in exceptional condition, having received approximately $1,500,000 in capital improvements since 2013. The building is proximate to numerous existing and future amenities including the Fountains Shopping Center, several nearby restaurants, hotels, master-planned neighborhoods, and an under construction, multi-phased, mixed-use development on the 192-acre former Texas Instruments campus.
This acquisition increases Stone Mountain’s commercial portfolio to over 780,000 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.