HOUSTON—With a strategy that capitalizes on the ever-improving industrial market, The Richland Companies recently acquired 8100 Westpark/Westpark Business Center, strategically located at 8100 Westpark Dr. in the Southwest Outer Loop submarket. The 74,462-square-foot industrial flex property sits on 3.9 acres, offering tenants easy access to the Southwest Freeway, 610 Loop, Sam Houston Tollway and Westpark Tollway, which provides direct routes to Beltway 8 and West Houston. It also has close proximity to the Galleria, Greenway Plaza and CBD. The price was undisclosed.
“Adding a new property to our portfolio is always an exciting way to start the year and 2018 is no different,” says Edna Meyer-Nelson, president and CEO of The Richland Companies. “8100 Westpark is in a sought-after location with high visibility for our tenants, seeing more than 45,000 cars per day on Westpark Drive and Westpark Tollway alone, and offers our tenants quick access to various distribution routes.”
Situated in a high-barrier-to-entry area location, 8100 Westpark features multiple entry points with three main ingresses; nine flexible rear-loading dock high, semi-dock and grade-level loading bays with 18-foot clear heights and ample parking. 8100 Westpark is currently 100% leased to three tenants including Hoffer Furniture, Pak Man Supply and DragoArt Tattoo Supply.
“Industrial is really coming on and has blossomed in the last six months,” Meyer-Nelson tells GlobeSt.com. “The West Park area has a lot of building, manufacturing, flex space and larger warehouses. That is the reason we chose to buy 8100 Westpark. We've been honing in on the property for the last six months and this was the right time to buy.”
8100 Westpark becomes Richland's 15th property in Houston, marking almost 1.9 million square feet of properties which Richland owns and manages. Richland will assume management responsibilities of the property, as it does with its entire portfolio of 35 properties in five states throughout the Southwestern United States. Other notable properties owned and managed by Richland in Houston include 550 Post Oak, Bay Plaza Office Complex, Beltway 8 Service Center, McDonald's-Beltway 8 Retail Center, Deerbrook Corner, Fairmont PH Business Park, Lakes on Eldridge Centre and Raton Plaza.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
