HFF announces the sale of Brookhollow West Business Park, two fully leased, Class A industrial warehouse buildings totaling 232,950 square feet in northwest Houston.
The HFF team represented the seller, AIV, Inc. A subsidiary of STAG Industrial, Inc. purchased the asset for an undisclosed price.
Completed between 2007 and 2008, Brookhollow West Business Park is home to three tenants and features 24-foot clear heights, a total of 40 dock-high doors, five drive-up ramps, 21 percent office finish and 277 parking spaces. The property is situated at 7140 and 7049 West Sam Houston Parkway North at the intersection of the Sam Houston Tollway (Beltway 8) and Highway 290 in the center of Houston’s Northwest Industrial submarket. The buildings’ location provides access to major thoroughfares and distribution corridors.
HFF’s investment advisory team included senior director Trent Agnew and senior managing director Rusty Tamlyn along with analyst Dane Petersen. Additionally, Stream Realty’s Jon Farris and Matteson Hamilton worked with the HFF team on the transaction.
“Brookhollow West represents the rare value-add opportunity in the industrial space due to the pending relocation of AIV to its new headquarters facility off Highway 290 and Telge Road in northwest Houston in early 2019,” Agnew said. “As a result, there was a tremendous amount of interest from investors that were drawn to the prospect that they could get their hands on some vacancy at a location considered to be the epicenter of the Houston Industrial market within two newer buildings that possess all the specifications that future tenants will desire.”
Holliday GP Corp. is a Texas licensed real estate broker.
About AIV, Inc.
AIV, Inc. is a global master distributor of high-quality valves and actuators, selling through distribution only. Established in 1991 as a resource for hard-to-find, exotic alloy and specialty valves, AIV has built a reputation as a premier master distributor in this arena, serving as a trusted resource for the oil and gas, refining, chemical, petrochemical, power, pulp and paper and water treatment industries. Learn more at aivinc.com.
About STAG Industrial, Inc.
STAG Industrial, Inc. is a real estate investment trust (REIT) focused on the acquisition and operation of single-tenant, industrial properties throughout the United States. For additional information, please visit the company’s website at stagindustrial.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.
