HOUSTON, TX, October 10, 2013 –HFF announced today that it has closed the sale of 1250 Wood Branch and 11931 Wickchester, two office buildings totaling 165,146 square feet in Houston’s Energy Corridor.
HFF marketed the properties on behalf of the seller, Peloton Capital Partners. Dornin Investment Group purchased the assets for an undisclosed amount. The buildings were purchased on an off-market basis.
1250 Wood Branch has 102,880 square feet that is 88.9 percent leased, and 11931 Wickchester has 62,002 square feet and is 76.6 percent occupied. The properties are located just north of Interstate 10 and west of Kirkwood in the Energy Corridor submarket in close proximity to Shell’s North American Headquarters.
The HFF team representing the seller was led by director Martin Hogan and senior managing director Dan Miller.
“Houston’s Energy Corridor has historically been one of the strongest and most stable office submarkets in the nation due to its base of energy companies as well as firms that provide services to the energy industry,” said Hogan. ”There is a lot of leasing activity in the Energy Corridor and the buyer was excited about the opportunity to acquire vacancy in this strong submarket.”
Peloton Commercial Real Estate was formed in 2002 and today has a portfolio of more than 19 million square feet of leased and/or managed properties in Texas.
Dornin Investment Group (“DIG”) is a real estate investment and asset management firm that invests in commercial and residential real estate in partnership with a broad base of institutional and private investors. The firm specializes in distressed, opportunistic and value-add real estate investments in all major property types with a focus on multifamily, office and industrial properties and notes. The company offers a full-service investment platform providing property management, leasing, construction management and finance through its wholly owned affiliate, Dornin Realty Advisors (“DRA”). For more information, visit www.dorningroup.com.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit www.hfflp.comor follow HFF on Twitter at www.twitter.com/hff.