Transwestern Closes Sale of Mason Creek in Houston
The property was owned by a partnership between Transwestern and AEW Capital Management, acting on behalf of an institutional investor.
By IvyLee Rosario
Mason Creek Business Center
Houston—Transwestern Development Co. has announced the sale of Mason Creek Business Center at 21201-21501 Park Row Drive in Katy, Texas. The 339,000-square-foot, Class A, four-building industrial property was owned by a partnership between Transwestern and AEW Capital Management, acting on behalf of an institutional investor, and was sold to an undisclosed buyer.
The new owner was represented by Rusty Tamlyn and Trent Agnew of HFF and Transwestern’s Darryl Noon and Jude Filippone have been retained to continue providing leasing services. Mason Creek Business Center is currently leased to a variety of tenants including Williams-Sonoma and Memorial Hermann.
“With the current strength of the Houston industrial market and the recent leasing momentum at Mason Creek Business Center, this was an ideal time to execute our disposition strategy,” said Pete Johnston, senior vice president at Transwestern Development Co., in prepared remarks. “The leasing team has done a tremendous job of marketing the property to attract high-quality tenants and make this asset a compelling opportunity for investors.”
Image courtesy of Transwestern
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