HOUSTON--HFF has closed the sale of two Houston-area properties: 8 West Centre, a newly-completed, Class A office building along the West Sam Houston Tollway, and 5151 Sommermeyer, a 57,550-square-foot warehouse and distribution center in Prologis Park West by Northwest.
HFF marketed 8 West on behalf of the seller, Core Real Estate. Azrieli Group, a real estate investment and development company based in Tel Aviv, Israel, purchased the asset for an undisclosed amount free and clear of debt. HFF assisted Azrieli in securing a five-year, fixed-rate acquisition loan through Aegon USA Realty Advisors LLC, a commercial real estate investment and management arm of Aegon Asset Management.
Completed last year, 8 West is a 227,045-square-foot, four-story property with a 938-space parking garage. The LEED Silver designated building is fully leased to two tenants: Cameron International Corp., which uses the facility as their divisional headquarters for their surface systems division, and Helix Energy Solutions, who has their global headquarters at the site. Situated on nine acres on the west side of Beltway 8, the property is located at 3505 West Sam Houston Parkway North, just north of Kempwood Drive in the West Belt Corridor of Houston.
The HFF investment sales team representing the seller was led by senior managing directors Dan Miller, Rusty Tamlyn and Mark West, and director Trent Agnew. HFF's debt placement team was led by managing director Matt Kafka and senior managing director Wally Reid.
HFF marketed the warehouse property on behalf of the seller, Foundation Properties. Prologis Inc. purchased the center for an undisclosed amount free and clear of existing debt.
The property sits on approximately 3.4 acres at the intersection of U.S. Highway 290 and Sam Houston Parkway, and consists of 31,850 square feet of grade-level warehouse space with three large crane-served bays, a 26-foot clear height and 21,900 square feet of office space. The asset is 100 percent leased to Proserv Operations Inc., a global oilfield services firm.
The HFF investment sales team was led by Tamlyn and real estate analyst John Rogers.
“This freestanding building is ideal for oilfield-related tenants as proven by its excellent occupancy history since being constructed in 1991,” Tamlyn said. “Prologis was the logical buyer since they developed most of the park and now own 20 of the 26 buildings comprising the park.”
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