{"id":1004359934,"date":"2019-10-14T03:57:11","date_gmt":"2019-10-14T11:57:11","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004359934"},"modified":"2019-10-14T03:57:11","modified_gmt":"2019-10-14T11:57:11","slug":"hartman-income-expands-houston-presence","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hartman-income-expands-houston-presence\/","title":{"rendered":"Hartman Income Expands Houston Presence"},"content":{"rendered":"<div id=\"attachment_1004360000\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/16420-Park-Ten.-Image-courtesy-of-JLL.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004360000\" data-attachment-id=\"1004360000\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hartman-income-expands-houston-presence\/16420-park-ten-image-courtesy-of-jll\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/16420-Park-Ten.-Image-courtesy-of-JLL.jpg\" data-orig-size=\"800,620\" 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=\"16420 Park Ten. Image courtesy of JLL\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;16420 Park Ten. Image courtesy of JLL&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/16420-Park-Ten.-Image-courtesy-of-JLL.jpg?w=800\" class=\"wp-image-1004360000 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/16420-Park-Ten.-Image-courtesy-of-JLL.jpg\" alt=\"16420 Park Ten. Image courtesy of JLL\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/16420-Park-Ten.-Image-courtesy-of-JLL.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/16420-Park-Ten.-Image-courtesy-of-JLL.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/16420-Park-Ten.-Image-courtesy-of-JLL.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004360000\" class=\"wp-caption-text\">16420 Park Ten. <em>Image courtesy of JLL<\/em><\/p><\/div>\n<p>Hartman Income REIT has acquired a 254,225-square-foot portfolio of three office properties in Houston, Texas. JLL represented the seller, HighBrook Investors.<\/p>\n<p>The portfolio includes 16420 Park Ten Place and 1400 Broadfield, both of which are located in the Park 10 Business Park within Houston\u2019s Energy Corridor neighborhood. Located near Houston\u2019s major highways\u2014Interstate 10, Grand Parkway and Beltways 6 and 8\u2014the Energy Corridor earned its name after several energy companies, including BP America, Citgo and Shell Oil Co., moved into the area.<\/p>\n<p>In addition to the two business park properties, 7915 FM 1960 is also part of the office portfolio. Located next to Willowbrook Mall with anchor tenants such as Macy\u2019s, Sears and JCPenney, the office building is home to medical offices and legal firms. All three properties combine for a 55 percent leased rate.<\/p>\n<p>For Hartman, this purchase follows an earlier purchase this year of another office property in the Energy Corridor. In February, the <a href=\"https:\/\/www.commercialsearch.com\/news\/hartman-acquires-houston-energy-corridor-office\/\">REIT spent $5.1 million<\/a> to purchase a 78,000-square-foot office building at 11211 Katy Freeway, which is more than 5 miles away from the Park 10 Business Park properties.<\/p>\n<p>JLL Capital Markets\u2019 Senior Director Martin Hogan led the team that represented HighBrook. The deal was originally secured by HFF before JLL acquired it in July.<\/p>\n<h2>Houston\u2019s healthy market<\/h2>\n<p>Hartman\u2019s newly-acquired properties are well-positioned as market reports detail steady growth for Houston. According to <a href=\"https:\/\/www.multihousingnews.com\/post\/houston-office-report-spring-2019\/\">Yardi Matrix\u2019s second-quarter report<\/a> on the area, the city\u2019s numbers have recovered well, including an average asking price of Class A office product that hit $35.46 per square foot as of March.<\/p>\n<p>Houston also saw 18,600 office-using jobs added year-over-year through February, bringing it to a total of 700,000 office jobs, the report added. Matching the job growth, developers have lined up a steady pipeline of more than 2.6 million square feet of new development under construction as of March.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The REIT purchased a three-property office portfolio totaling more than 250,000 square feet.<\/p>\n","protected":false},"author":883,"featured_media":1004360000,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,1589,21742,21747],"tags":[44051,37041,32796],"class_list":["post-1004359934","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-houston","category-latest","category-office","tag-hartman-income-reit","tag-highbrook-investment-management","tag-jll"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Hartman Income Expands Houston Presence - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/hartman-income-expands-houston-presence\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hartman Income Expands Houston Presence\" \/>\n<meta property=\"og:description\" content=\"The REIT purchased a three-property office portfolio totaling more than 250,000 square feet.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/hartman-income-expands-houston-presence\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-14T11:57:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/16420-Park-Ten.-Image-courtesy-of-JLL.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jackson Chen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hartman-income-expands-houston-presence\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/hartman-income-expands-houston-presence\/\",\"name\":\"Hartman Income Expands Houston Presence - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hartman-income-expands-houston-presence\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hartman-income-expands-houston-presence\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/16420-Park-Ten.-Image-courtesy-of-JLL.jpg\",\"datePublished\":\"2019-10-14T11:57:11+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/8d4607aca26f3427c49fe54ddc82ddf1\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hartman-income-expands-houston-presence\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/hartman-income-expands-houston-presence\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hartman-income-expands-houston-presence\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/16420-Park-Ten.-Image-courtesy-of-JLL.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/16420-Park-Ten.-Image-courtesy-of-JLL.jpg\",\"width\":800,\"height\":620,\"caption\":\"16420 Park Ten. 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