NAI Tapped to Lease, Manage 4 Houston Office Assets
- Jan 26, 2018
NAI Partners has been selected to oversee all leasing and property management at the Kingwood Place I, II, III and IV office assets in Kingwood, Texas. The change comes immediately after C-III Asset Management, acting on behalf of U.S. Bank, foreclosed on a $16 million CMBS mortgage and took ownership for $14 million, according to Yardi Matrix. The prior owner, Gemini Rosemont, had handled management and leasing following their acquisition of the property in 1999.
Located at 600, 700, 800 and 900 Rockmead Drive, the four two-story buildings are situated near Interstate 69, enabling convenient access to downtown Houston, 20 miles south. Kingwood Commons, a grocery store-anchored shopping center, sits across the street from the property. Built between 1978 and 1982, the structures are currently occupied by a number of tenants, including Alliance Recruiting Resources, Valence Operating Co., Nova-Tech International and Kingwood Personnel. The buildings’ vacancy rates range from 2.9 to 14.4 percent, per Yardi Matrix data from December 2017.
“It is a wonderful project in a great location with a long-standing history of being an exemplary option for the commercial tenants of Kingwood, Texas. We look forward to assisting in the implementing of the next phase of ownership for Kingwood Place,” said James Tainter, managing director of NAI Partners’ landlord services division, in a prepared statement.
NAI’s Jacob Aldridge and Zach Leger will lead the leasing team for the buildings. Earlier this year, the company arranged a nearly 10,000-square-foot sublease at a downtown Houston office asset.
Image courtesy of NAI Partners