LandPark Advisors arranges acquisition of Two Multi-Tenant Office Buildings in Houston, Texas
February 16, 16
Peter Wall and Bill McGrath of LandPark Advisors represented Stone Mountain Properties in the acquisition of two multi-tenant office buildings in Houston, Texas. The two buildings are located in the heart of the Westchase District and total 154,704 square feet of net rentable area.
The new buildings, located at 2424 & 2500 Wilcrest are well located just north of the northwest corner of Wilcrest and Westheimer. “The buildings feature rents well below the Class A average coupled with a location superior to other Class B properties in the Westchase District, offering tenants a unique value proposition for Westchase. These building fit nicely into our commercial portfolio and are in close proximity to our other office properties in West Houston”. – stated James Birney, Managing Director for Stone Mountain Properties.
This acquisition increases Stone Mountain’s commercial portfolio to over 635,000 square feet in Texas and New Jersey. In addition to its commercial portfolio, Stone Mountain has a multi-family portfolio of over 2,300 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.