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GlobeSt.com EXCLUSIVE: $73M Tag Hanging on 1M SF

HOUSTON-Hill Partners is seeking a buyer for one third of its Houston holdings, a nine-property, class A package with a 72% occupancy, 117 tenants and 35 buildings in the northwestern, north and southwestern sectors.

By Jennifer Brenner Andrade | Updated on June 11, 2004

HOUSTON-Hill Partners Inc. of Austin has brought to market a class A, 1.2-million-sf industrial portfolio in Houston or roughly one third of its holdings in the metro. The opening price is $73 million for nine properties with a 72% occupancy.

The 35-building, 73.9-acre portfolio was developed in 1980-82 by Trammell Crow Co. The majority of the product, which has a 44% office build-out, is situated in the city’s most popular distribution submarket, the northwest. Three properties are positioned on the north side and one in the southwest.

Steering the sale is CB Richard Ells Inc.’s investment properties group headed by executive vice presidents, Jack C. Fraker in Dallas and Darla Longo in Ontario, CA. The team also includes Randy Baird, senior vice president, and John Robinson, associate, both in Dallas along with Barbara Emmons, senior vice president in Glendale, CA.

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