ING Clarion of New York City sold the Clear Lake I and II after a six-year hold to take advantage of the favorable capital markets, Rusty Tamlyn, principal in Houston for Dallas-based Trammell Crow Co., tells GlobeSt.com. He, TCC's vice president Ralph Tullier and ING's senior vice president Timothy Guy brokered the transaction.

Buyer Twenty Twenty Properties got twin buildings with the bulk of the space leased for 10 years to Lockheed Martin and Wyle Labs, which are co-venturing on a NASA contract. The Bethesda, MD-based Lockheed Martin occupies 33,509 sf of the 65,233-sf Clear Lake I at 1290 Hercules Ave., and the El Segundo, CA-headquartered Wyle takes up the entire 64,078-sf Clear Lake II at 1300 Hercules Ave. and another 6,618 sf in its twin. The buildings were developed in 1984 on an 8.7-acre tract.

In six months of marketing, only a handful of buyers stepped forward. Tamlyn says some investors were concerned about the submarket and the properties' heavy dependence on NASA contracts despite Wyle's 20-year track record in Clear Lake with the space program. He says the perception was unfazed by the fact that 11 of the Top 15 employers in the submarket are not bound to the space program. Twenty Twenty, though, went after the fit for its criteria: suburban office product with credit tenants and long-term leases. Last fall, Twenty Twenty bought the 63,000-sf Oceaneering Building at 16665 Space Center Blvd. in Clear Lake. And like last time, Susan Hill, senior vice president for NorthMarq Capital's Houston office, arranged financing for the sale.