The win was a relatively easy one since Holt already leases 800,000 sf of Sealy-owned properties around town and was overseer for the just-bought properties for the last five years. In mid-March, Sealy acquired 1.8 million from TA Associates Realty of Boston, paying 10% or more above the $40.1-million assessed value for five properties in Houston and nine in Dallas as reported by GlobeSt.com. Edward Bane, partner with the Holt Cos., tells GlobeSt.com that negotiations began immediately after the trade, with Sealy foregoing any competitive search for the leasing and management jobs.

Bane says the Houston package, mostly northwest Houston properties, has only one opening, 61,000 sf in a 184,500-sf building at 1200 Silber Road. He says the immediate focus is to get the building leased up, either to one or two tenants. The remaining leases have a 12% roll in mid-2005. Rents average $4.20 per sf gross for the class B package, comprised of buildings constructed in the early 1970s through the mid-1980s.

The new assignment also includes 1801 W. Sam Houston Parkway, a 110,810-sf structure; a 91,166-sf building and 128,459-sf warehouse at 1501 and 1401 Greengrass Drive; and 170,558-sf structure at 401 W. Crosstimbers St. The tenant roster includes Motion Industries Inc. in the Silber Road building; Willamette Industries Inc. at 1501 Greengrass Drive; and Drake Container Corp. at 1401 Greengrass Drive.