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12,000-SF Medical Office Building Sets Up $2M Trade

HOUSTON-A local 1031 Exchange buyer gets a 10-year-old, class A building that's fully leased for another three years to the Woman's Place. With the deal now done, the new owner has opened talks with the tenant to extend its lease.

By Jennifer D. Duell | Updated on January 26, 2005

HOUSTON-A local 1031 Exchange buyer has paid close to $2 million for a 12,000-sf, class A medical building in the Kingwood area.

NJG & M Texas Inc. purchased the 1330 Kingwood Dr. property from TA/Kingwood Medical Ltd. of Houston. The single-story building is fully leased for another three years to the Woman’s Place, which uses the space for a pediatrics care center.

“One of the great things about this buildings is that the area has a lot of residential around it,” says John Parsley, principal and director of Colliers International’s Houston office who represented the buyer along with associate Joe Knauth. TA/Kingwood Medical Ltd. was represented by the Colliers team of David Butler and Roddy McAlpine.

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