Transwestern Commercial Services recently brokered the disposition of West Memorial Park, a 322,000-square-foot, seven-building office park in Houston, Texas.
The value of the transaction was not disclosed.
An unidentified party sold the asset to Mike Baker and Bobby Orr.
West Memorial Park is centrally located at the intersection of the Katy Freeway and Bingle Road. The buildings are located on 15.3 acres and were completed between 1976 and 1982. At the time of the sale the buildings were approximately 88 percent occupied.
Three buildings in the complex are scheduled for demolition to continue the I-10 Freeway expansion, according to a press statement. The new owners are planning to operate the office park and build a retail component, which will complement their existing Home Depot site and add value for the consumers of the City of Spring Valley.
***
What’s your opinion? Send your Letter to the Editor to opinion@inman.com.
