Regnum Properties LP bought the 21-year-old North Shepherd Business Center from Deutsche Bank as part of a five-property disposition acquired from the buyout of the French construction company, Amega Corp. The 7801-7811 N. Shepherd Dr. is the third holding to go in the package.

Conrad Bernard in the Houston office of Boyd Page Commercial Real Estate Services tells GlobeSt.com that the properties went on the market about five months ago as separate offerings. A Grandy's restaurant at US Highway 59 and FM 1960, also in the north submarket, was sold earlier this year. A 3.6-acre tract sold to Truck Nation, which carved the parcel from 12.7 acres that are under contract and set to close in July, according to Bernard. A 300,000-sf industrial facility at McCarthy Road and Loop 610 the east side of town and a multi-tenant service center near Stella Link Boulevard remain on the market.

Bernard says the 11-tenant North Shepherd Business Center attracted six offers. The two buildings, positioned on about eight acres, were 95% leased at sale time, with Lone Star Ford as the top space taker with about 45,000 sf. Bernard says 20% of the leases will roll in 2004, 60% in 2005 and the balance turn in 2006 and 2007.

Bill Ingram with the Ingram Cos. of the Woodlands represented the buyer, who has gotten a property without any deferred maintenance. According to Bernard, the sale is just another indicator that "demand for investment properties is still pretty hot.