NorthMarq Capital arranged financing of nearly $7.5 million through its correspondent National Life of Vermont for the acquisition of The Clear Lake I & II Office Buildings in Clear Lake City near Houston. NorthMarq SVP Susan L. Hill arranged the financing.
The Clear Lake I & II office project encompasses two mirror image two-story buildings located at 1290 & 1300 Hercules in Clear Lake City, Texas. The class A office buildings contain 128,171 rentable square feet and are situated on approximately 8.7 acres of land. They are predominately occupied by Lockheed Martin and Wyle Laboratories, both of which recently signed new 10-year leases. The well-located property 99 percent leased predominately with credit tenants with extended lease terms.
NorthMarq Capital is a national real estate investment banker providing financing for commercial real estate, including office, retail, industrial, multi-family and assisted living development. NorthMarq has 28 offices and 350 employees.
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