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Sale Time Comes After Successful Repositioning

HOUSTON-The 79,000-sf Park Row sells after five years of its Dallas-based owner working toward a successful repositioning. And the buyer is a Houston investor, who has formed a limited liability company just for the takeover.

By Jennifer Brenner Andrade | Updated on August 02, 2001

HOUSTON-Time to sell, says the owner of a 79,000-s industrial flex building in the west Houston Energy Corridor. The decision by Techniplex 10 Ltd, an entity controlled by Dallas-based Harkinson Investment Corp., comes after a successful repositioning for 100% occupancy and marrying rent to market averages.

Techniplex Business Center LLC is the buyer of record for 16203 Park Row. David M. Boyd of Boyd Page represented the seller in the deal and Boyd Page’s Ed Page acted for the buyer, a newly formed entity of a Houston investor.

Boyd tells GlobeSt.com that the seller owned the building for five years and predicated the decision to sell upon meeting goals set for the site at purchase time. The fully leased structure provides space for smaller energy and services firms that cater to high-profile clients such as BP, Amoco and ExxonMobil.

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