{"id":1004164011,"date":"2017-01-13T07:36:46","date_gmt":"2017-01-13T15:36:46","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004164011"},"modified":"2022-12-08T15:55:28","modified_gmt":"2022-12-08T23:55:28","slug":"stone-mountain-properties-buys-20m-office-building-in-houston","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/stone-mountain-properties-buys-20m-office-building-in-houston\/","title":{"rendered":"Stone Mountain Properties Buys $20M Office Building in Houston"},"content":{"rendered":"<p><em>By Adelina Osan, Associate Editor<\/em><\/p>\n<p><strong>Houston<\/strong>\u2014Stone Mountain Properties recently acquired a 143,211-square-foot office building in Stafford, Texas from Griffin Capital. Bill McGrath, CCIM and Peter Wall from LandPark Advisors represented the company in the $20 million deal.<\/p>\n<div id=\"attachment_1004164012\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/12603-Southwest-Freeway.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004164012\" data-attachment-id=\"1004164012\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/stone-mountain-properties-buys-20m-office-building-in-houston\/12603-southwest-freeway\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/12603-Southwest-Freeway.jpg\" data-orig-size=\"640,512\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"12603 Southwest Freeway\" data-image-description=\"&lt;p&gt;12603 Southwest Freeway&lt;\/p&gt;\n\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/12603-Southwest-Freeway.jpg?w=640\" class=\"wp-image-1004164012 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/12603-Southwest-Freeway.jpg\" alt=\"12603 Southwest Freeway\" width=\"300\" height=\"240\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/12603-Southwest-Freeway.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/12603-Southwest-Freeway.jpg?resize=300,240 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004164012\" class=\"wp-caption-text\">12603 Southwest Freeway<\/p><\/div>\n<p>Constructed in 1981, 12603 Southwest Freeway is a Class B, six-story office building located in close proximity to several entertainment venues, master-planned neighborhoods and a currently under construction, mixed-use development on the 192-acre former Texas Instruments campus. The property received approximately $1.5 million in capital improvements since 2013.<\/p>\n<p>LandPark Commercial was selected to provide both property management and leasing services on behalf of Stone Mountain Properties.<\/p>\n<p>The sale of 12603 Southwest Freeway was subject to a $13.1 million loan held by Citibank, according to Yardi Matrix data. This recent acquisition brings Stone Mountain\u2019s commercial portfolio to more than 780,000 square feet in Texas and New Jersey. In addition to its commercial portfolio, Stone Mountain has a multifamily portfolio of more than\u00a02,500 units and in excess of 120 acres of land.<\/p>\n<p><em>Image via Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Griffin Capital sold the 143,211-square-foot office building to Stone Mountain Properties in a transaction arranged by LandPark Advisors. <\/p>\n","protected":false},"author":735,"featured_media":1004164012,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1589,21783,21742,21747],"tags":[33457,33041,33458,33459,33454],"class_list":["post-1004164011","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-houston","category-investment","category-latest","category-office","tag-citibank","tag-griffin-capital","tag-landpark-advisors-llc","tag-landpark-commercial-llc","tag-stone-mountain-properties"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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