Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Intellicenter, a 160,407-square-foot, Class A office property in Houston, Texas.
HFF marketed the property on behalf of the seller, and procured the buyer, Insite Commercial Real Estate. The property was sold free and clear of financing.
Intellicenter is situated on 12.8 acres at 4650 Westway Park within the three-million-square-foot Westway Park office campus along the West Sam Houston Tollway (Beltway 8). Completed in 2007, the LEED® Silver, three-story property is fully leased to The Travelers Indemnity Company and Cameron Village LLC. Cameron’s lease for 25 percent of the building expires in October 2017 and presents an opportunity to lease up vacancy. Intellicenter offers under floor HVAC and a 6/1,000 parking ratio.
The HFF investment sales team representing the seller was led by senior managing director Danny Miller and senior director Trent Agnew.
“Value-add office opportunities like Intellicenter are generating a lot of interest from both long-time Houston investors as well as new sources of capital, and as a result the deal generated 12 offers,” said Agnew. “Insite recognized the quality of the building and location having built similar product in the market and were great to deal with.”
About Insite Commercial Real Estate
InSite is a full service commercial real estate company with a focus of determining investment
opportunities where value is maximized through disciplined execution of asset management, property management, and project leasing and ultimately providing significant returns for its clients.
About HFFHolliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 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 sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a Texas licensed real estate broker.
