AIV Inc. Buys 2 Houston Industrial Buildings
- Apr 04, 2018
AIV Inc.—a subsidiary of STAG Industrial Inc.—has bought Brookhollow West Business Park, two fully leased, Class A industrial buildings in northwest Houston, totaling 232,950 square feet. HFF Senior Director Trent Agnew and Senior Managing Director Rusty Tamlyn, along with Dane Petersen represented the seller. Stream Realty Partners Managing Directors Jon Farris and Matteson Hamilton also assisted HFF on the transaction.
Located at 7140 West Sam Houston Parkway and 7049 West Brookhollow Drive, the one-story properties—which are located on a 12-acre site—are home to three tenants, according to HFF. Built in 2008, Brookhollow West Business Park features 24-foot clear heights, 40 dock-high doors, five drive-up ramps, 21 percent office finish and 277 parking spaces. Highway 290 is easily accessible from the property.
“Brookhollow West represents the rare value-add opportunity in the industrial space due to the pending relocation of AIV to its new headquarters facility off Highway 290 and Telge Road in northwest Houston in early 2019,” said Agnew in prepared remarks. “As a result, there was a tremendous amount of interest from investors that were drawn to the prospect that they could get their hands on some vacancy at a location considered to be the epicenter of the Houston industrial market within two newer buildings that possess all the specifications that future tenants will desire.”
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