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SoCal Investor Jumps to Buy Southwest Houston Asset

STAFFORD, TX-The first-time Texas buyer grabs the 60,500-sf, class A flex building on the first day it hits the market. The sale of the 88%-leased Stafford Business Center closes the book on National Realty Group's southwest submarket holdings.

By Jennifer D. Duell | Updated on November 21, 2004

STAFFORD, TX-With plans to make more investments in the Houston area, a Southern California investor has entered the market with the acquisition of a 60,500-sf, class A flex industrial property in the Greenbriar Southwest Business Park.

The buying entity, Concord Enterprises LLC, purchased the four-year-old building at 4100 Greenbriar Dr. from Houston-based National Realty Group as part of a 1031 exchange. Industry sources say the asset is valued at $3.5 million to $3.8 million.

“With real estate values so high on the West Coast, the buyer decided to sell his assets in Southern California and invest in a safer, more stable market,” says Larry Marks, senior vice president with Betz Commercial Brokerage Inc. in Houston.

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