Search
 

Crow Relinquishes 289,081-SF McCarty Business Park

HOUSTON-Crow Holdings, ending a two-year hold, sells the 15-acre asset to Cobalt Industrial REIT, one of 10 bidders for a fully leased quartet of office/warehouse buildings that comes to market as part of a fund close-out.

By Amy Wolff Sorter | Updated on September 16, 2005

(To read more on the industrial market, click here.)

HOUSTON-Following a two-year ownership for strictly investment purposes, the Dallas-based Crow Holdings has sold the 289,081-sf McCarty Business Park to Cobalt Industrial REIT, a real estate investment arm of Cobalt Capital Partners from Irving, TX.

The four-building business park, postioned at 245-279 McCarty St., was purchased in 2003 for a reported $7.2 million. The asset’s current Harris County assessment is about $5.7 million. The park was 100% occupied at the time of closing, with tenants including J.D. Martin Co. Inc., Industrial Valco and Aerobus International.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.