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First of Four Planned Office Sales Close in Woodlands

THE WOODLANDS, TX-Woodlands Office Equities gets nearly $8.8 million for a 70,211-sf, fully leased office building along Research Forest Drive. A 59,956-sf building is under contract and the developer is looking for buyers for the balance.

By Jennifer Brenner Andrade | Updated on November 04, 2001

THE WOODLANDS, TX-The Woodlands Office Equities, a subsidiary of Woodlands Operating Co., has unloaded the first of four flex buildings in the Research Forest Drive area. The 70,211-sf , three-year-old building was sold to G.F. Tangent Office Partners II LP.

Doug Nicholson and Martin O’Malley, both of the Houston office of Grubb & Ellis Co., represented the seller. O’Malley tells GlobeSt.com that the buyers are a small group of investors based in the Woodlands.

“The Woodlands has one of the best office markets in Houston and is probably one of the top two or three markets in the country,” says O’Malley. He cites the good leasing velocity and the ability of the area to attract move-ins as reasons for its success.

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