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Developer Buys 650,000-SF MetroNexus Tech Center

HOUSTON-Jenard Gross, a veteran apartment developer and prominent Houstonian, acquires the dormant telecom asset from MetroNexus and Macfarlan Real Estate Investment Management, ending a five-year hold and dashed hope for a carrier hotel.

By Jennifer D. Duell | Updated on July 28, 2005

HOUSTON-The 650,000-sf MetroNexus Technology Center, sitting on 34 acres at Loop 610 and US Highway 290, has been bought and ticketed for redevelopment by prominent local developer, Jenard Gross.

Gross’ Fleming Loop Partners acquired 34-acre footprint from the New York City-based MetroNexus, a subsidiary of the Morgan Stanley Dean Witter investment firm, and Macfarlan Real Estate Investment Management of Dallas. Industry sources say it is one of the largest flex industrial transactions this year, but the sale price and other details about the deal weren’t available by publication time. MetroNexus and Macfarlan paid $21 million five years ago for the 2525 Minimax Dr. property.

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