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Woodlands Maturity Attracts Investment Buyer

THE WOODLANDS, TX-Two office buildings, totaling 149,947 sf, hook a Santa Fe-based investment group buyer. It's a first for the Woodlands submarket and a definite sign of submarket maturity, says a Holliday Fenoglio Fowler broker involved in the sale.

By Jennifer Brenner Andrade | Updated on November 07, 2001

THE WOODLANDS, TX-It’s a sign of submarket maturity, with two office properties attracting a buyer from the commercial investment arena. Santa Fe-based BGK Properties makes the hallmark purchase in the Woodlands, says Bill Miller of Holliday Fenoglio Fowler LP’s Houston investment sales group.

Miller, Jim Savage and Jeff Holinden represented the Woodlands Operating Co. LP in the sale. “This sale represented a unique opportunity to own a commercial asset in a strong and growing submarket,” Miller tells GlobeSt.com.

In the past, buyers were users instead of hailing from the commercial investment arena. BGK has acquired the deeds to a five-story, 77,951-sf structure at 10200 Grogan’s Mill Rd. and a four-story, 71,996-sf building at 1610 Woodstead Court. The Grogan’s Mill property was built in 1980 and is 100% leased to tenants such as Chicago Bridge & Iron and Sprintcom Inc. Woodstead Court is 93% leased to tenants such as Stewart Title and D. Hilton & Associates.

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