Sale of office property in Houston’s Gulf Freeway/Pasadena submarket closed by HFF
HOUSTON, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of 12600 Featherwood, a four-story, 74,753-square-foot office property in Houston, Texas.
HFF represented the seller, Klabzuba Realty, in the transaction. NAI Partners, through NAI Investment Fund I, LLC, purchased 12600 Featherwood for an undisclosed amount and obtained debt from Amegy Bank.
“This transaction represents the completion of a successful round trip that generated attractive returns to our investors,” said Klabzuba Executive Vice President Clint Corn. “We remain committed to proactively recycling our capital into urban infill opportunities in major Texas markets.”
12600 Featherwood is situated directly east of Interstate 45 South/The Gulf Freeway about 14 miles south of Houston’s central business district in the Gulf Freeway/Pasadena submarket. This places the property within close proximity to the Port of Houston, Hobby Airport, the Texas Medical Center and NASA’s Johnson Space Center. 12600 Featherwood is 81.5 percent leased to tenants including TriStar Global, Bamberger, Carber Holdings and Leasing Associates Service.
The HFF investment sales team was led by director Martin Hogan.
“The building is well positioned to capture oil and gas and logistics tenants that need a location need the Port of Houston or Hobby Airport,” said Hogan.
About Klabzuba Realty
Based in Fort Worth, Klabzuba Realty owns real estate throughout Texas and other states with over one million square feet of rentable space. www.klabzuba.com
About NAI Partners
NAI Partners is one of Texas' largest independently owned commercial real estate services organizations. With offices in Houston, Austin and San Antonio, NAI Partners offers regional coverage across the state of Texas. NAI Partners has a reputation for leadership, knowledge, creativity, and proven ability. Offering over 20 years of commercial real estate experience, the company has a distinctive, solid foundation comprised of top-level local professionals with a diversified skill-set. The firm uniquely combines its agile platform with experienced real estate teams—all backed by the institutional strength of NAI Global, one of the world’s leading commercial real estate companies. NAI Investment Fund I, LLC, has been organized by NAI Investment Management, LLC and the partners of NAI Partners to invest in office and industrial multi-tenant properties in Houston, Dallas, Austin and San Antonio. According to Rob Evans, the objective is to acquire value-add properties in these markets over the next 18-24 months. www.naipartners.com
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a Texas licensed real estate broker.