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Crow Holdings Buys McCarty Business Park

HOUSTON-Dallas-based investment firm Crow Holdings acquired the four-building, 289,081-sf McCarty Business Park in the northeast section. The sales price was not revealed, but Crow paid close to the asking price of $7.2 million.

By Jennifer Brenner Andrade | Updated on November 03, 2003

HOUSTON-The McCarty Business Park has been traded from one investment firm to another. Dallas-based Crow Holdings has purchased the property in the northeast section of the city from Realty Investment Fund III, a vehicle of private equity investment firm, TA Associates of Boston. While the actual transaction sales price was not disclosed, Crow Holdings paid close to the sticker price of $7.2 million.

Rusty Tamlyn, principal, and Ralph Tullier, vice president, with the investment sales division of the local office of the Trammell Crow Co. marketed the property on behalf of the Realty Investment. Tullier tells GlobeSt.com that the property, which includes four bulk industrial buildings totaling 289,081 sf, was on the market for about four months and received “a large amount of offers from a wide variety of buyers.” Tullier says the new owners plan to hold onto park for the time being.

Tullier says the property attracted a lot of attention because it is 100% occupied, well-located and was delivered into strong capital market without enough bulk industrial product to satisfy demand. “There is a lot of money chasing bulk industrial [product] right now,” adds Tullier.

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