{"id":1004190390,"date":"2017-09-24T23:36:14","date_gmt":"2017-09-25T07:36:14","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004190390"},"modified":"2022-12-07T20:12:38","modified_gmt":"2022-12-08T04:12:38","slug":"michigan-property-manager-expands-in-texas","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/michigan-property-manager-expands-in-texas\/","title":{"rendered":"Michigan Property Manager Expands in Texas"},"content":{"rendered":"<p>By Veronica Grecu<\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/houston-texas.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004191541\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/michigan-property-manager-expands-in-texas\/houston-texas\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/houston-texas.jpg\" data-orig-size=\"1024,683\" data-comments-opened=\"0\" 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=\"houston-texas\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/houston-texas.jpg?w=1024\" class=\"alignright size-medium wp-image-1004191541\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/houston-texas.jpg\" alt=\"houston-texas\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/houston-texas.jpg 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/houston-texas.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/houston-texas.jpg?resize=768,512 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>Friedman Integrated Real Estate Solutions, a Farmington Hills, Mich.-based provider of commercial real estate services, is expanding its portfolio in Texas. The company has been awarded management of three office assets, all of which are located in Houston.<\/p>\n<p><em>\u201cThe Texas real estate market is hot right now and we are excited to be a part of the growth,\u201d<\/em>\u00a0Karin Meier, managing director, asset management\/client relations at Friedman,\u00a0said in prepared remarks\u00a0<\/p>\n<p>All three office properties are located in Houston and encompass more than 256,000 square feet of commercial space.<\/p>\n<h2><strong>TWO FORECLOSED ASSETS<\/strong><\/h2>\n<p>One of the office buildings is located at 1505 S State Highway along the Houston Energy Corridor and encompasses 62,487 square feet of Class B space, as well as a parking structure with more than 250 spaces. According to Yardi Matrix, the property was owned by Colette Farms until November 2015, when LNR Partners foreclosed the asset on a 2007 CMBS loan in the amount of $9.08 million.<\/p>\n<p>Located at 4101 Interwood N Parkway, the second property totals 80,000 square feet of Class B office space with rents varying between $15.00 and $18.00 per square foot per year. Sovereign Capital owned the two-story building until April 2017, when LNR Partners foreclosed it on a $8.25 million CMBS loan placed in March 2007.<\/p>\n<p>The third asset, totaling some 113,000 square feet of space, is an industrial warehouse located at 2772 Bingle Road and with easy access to Interstate 10 and Highway 290.<\/p>\n<p><em>Image courtesy of Friedman\u00a0Integrated Real Estate Solutions<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company manages more than 140 commercial properties encompassing in excess of 16 million square feet throughout the U.S.<\/p>\n","protected":false},"author":258,"featured_media":1004191541,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1589,21742,21747,21785],"tags":[32923],"class_list":["post-1004190390","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-houston","category-latest","category-office","category-property-management","tag-friedman-integrated-real-estate-solutions"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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