THE WOODLANDS, TX-Just days after selling an office building in the master-planned community, Triple Net Properties LLC has acquired Waterway Plaza I and II. Industry sources say the 366,043-sf, high-profile complex has garnered $73 million.

“This price sets a new benchmark for the Houston market and adds a lot of credibility to it,” an industry player says. “It also helps stretch the value for properties throughout the marketplace.”

According to Jeff Hollinden, senior managing director with Holliday Fenoglio Fowler LP’s Houston office, the buildings received a significant amount of interest. “It was really a Who’s Who list of institutional buyers,” he tells GlobeSt.com. “There were a lot of offers because this is one of the top quality assets in the suburban Houston office market.” He represented the seller, C F Woodlands Office LP, an affiliate of Houston-based Lionstone Group.

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