HFF announces the sale of Intrepid Business Park, a two-building, Class A industrial project totaling 270,750 square feet in Houston’s premier Northwest submarket.
The HFF team represented the seller, Triten Real Estate Partners.
Intrepid Business Park is located on 17.13 acres at 5737 and 5747 Brittmoore Road in the heart of Houston’s Northwest industrial submarket. The park is one block west of Beltway 8 (Sam Houston Tollway), two miles south of US Highway 290 and five miles north of Interstate 10, all major Houston thoroughfares that provide critical access points to Houston and regional markets. Developed between 2014 and 2015, Intrepid Business Park features 30-foot clear heights in both buildings, a total of 58 dock-high doors and 14.3 percent total office finish. The property is home to five tenants.
HFF’s investment advisory team included senior director Trent Agnew and senior managing director Rusty Tamlyn as well as analyst Dane Petersen.
“Intrepid Business Park is a case study for the success of redevelopment within an area of Houston that has severe land constraints,” Agnew said. “Triten Real Estate Partners had the foresight to develop new Class A product within a pocket that was previously heavy manufacturing in nature and has proven to command premium rental rates due to the well-conceived site plan, modern building specs and proximity to Beltway 8.”
Holliday GP Corp. is a Texas licensed real estate broker.
About Triten Real Estate Partners
Founded in 2011, Triten Real Estate Partners is a subsidiary of the Triten Corporation, an investment holding company dating back nearly seventy years with operating subsidiaries in energy, media, real estate and consumer goods. With offices in Houston and Dallas, TREP focuses on special situations in real estate that provide superior risk adjusted returns. Leveraging its almost thirty years of project and construction management experience TREP is able to execute on complex development and capital projects. The company prides itself as being entrepreneurial and flexible to find investments through a disciplined research and market driven approach. For more information, please visit http://www.tritenre.com.
About HFF
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.
