posted on August 06, 2010 09:00
Cole Real Estate Investments has added yet another Houston-area real estate property to its portfolio with the purchase of a Humble shopping center.
The Phoenix real estate investment firm bought Atascocita Commons from Trammel Crow Co. in an all-cash deal valued at $56.5 million.
The 306,890 square-foot shopping center was built in 2006 and is anchored by Kohl’s and TJ Maxx/HomeGoods. Located just east of George Bush Intercontinental Airport, it is 98.5 percent leased to a mix of national and regional retail tenants.
Cole Real Estate has been active in the Texas market this month, purchasing both the Igloo Products Corp. headquarters in Katy, and AT&T Inc.’s regional headquarters in Dallas.
CB Richard Ellis brokers representing Trammel Crow in this transaction were William Kent, Ryan West and Gary Lawrence. Clint Marchuk, director of acquisitions at Core Real Estate, represented his firm.
July 30th, 2010 | Houston Business Journal | Christine Hall