HOUSTON, TX – June 13, 2019 – HFF announces that it has closed the sale of Kempwood Tech Center, three Class B flex industrial warehouse buildings totaling 113,117 square feet in Houston’s Northwest industrial submarket.
HFF marketed the property in conjunction with Ten-X on behalf of the seller, special servicer LNR Partners, LLC. CG7600 LP purchased the assets.
Situated on 7.18 acres at 2700-2778 Bingle Road, the portfolio is located at the signalized corner of Bingle and Kempwood Roads proximate to two of Houston’s busiest freeways, Interstate 10 and U.S. Highway 290. The portfolio is in Houston’s Northwest Industrial submarket, which is the largest submarket in Houston by square footage and home to the largest concentration of institutional ownership in the city. Home to two tenants, the one-story buildings feature between 14- and 16-foot clear heights, 30 grade-level loading doors and varying amount of office space.
The HFF investment advisory team representing the seller was led by senior director Martin Hogan and real estate analyst Charles Strauss.
“Kempwood Tech Center is an exceptional opportunity for an investor to reposition older assets in one of Houston’s largest and best-performing industrial submarkets,” Hogan said.
Scott Wilkerson, an in-house broker for Garver Real Estate, handled the acquisition for the buyers.
Holliday GP Corp. ("HFF") is a Texas licensed real estate broker.
About Garver Real Estate
Garver Real Estate is a privately owned real estate investment and management company. The company was created by C.M. Garver, a Houston real estate broker and engineer. Mr. Garver has owned and operated a civil construction company BRH Garver Construction and has been a real estate investor for over 45 years. The primary focus of Garver Real Estate and its limited partnership, CG7600LP, has been purchasing and rehabilitating large warehouse complexes creating a diverse inventory of industrial leasing opportunities. Garver Real Estate has a portfolio of many different sizes and building types, including, industrial, manufacturing and distribution facilities. CG7600LP currently owns and manages industrial buildings in Texas, California and Florida. The company now offers construction services for build-to-suit projects on a variety of locations in the Houston and San Antonio areas. Garver Real Estate comprises its in-house brokerage team, accounting and construction and maintenance departments. The company’s in-house management and maintenance staff ensure that its tenants are provided a quality level of service allowing them to focus on operating their businesses. To learn more, visit garverrealestate.com.
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.
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