HOUSTON – A real estate investment company led by Mallick Group, Inc. and Keating Investments, purchased the Oak Park Office Center III, a 151,000-square-foot office building in Houston’s Westchase district.
Mallick Group is a real estate and energy related investment firm based in Fort Worth, Texas and Keating Investments is a real estate and energy related investment firm based in Oklahoma City, Oklahoma. Other notable real estate transactions related to the purchaser include the 2010 acquisition of the 104-acre land tract located on Interstate 610 across from Reliant Park in Houston, where the Six Flags AstroWorld amusement park once stood.
HFF marketed the property on behalf of the seller, Daymark Realty Advisors.
The HFF investment sales team representing the seller was led by senior managing director Robert Williamson and director Trent Agnew.
“Oak Park Office Center III was a highly sought after offering due to its strategic West Houston location, excellent visibility from Beltway 8 and investment-grade tenancy,” said Williamson.
The property is located between Rogerdale Road and Sam Houston Parkway (Beltway 8) within the 225-acre, master planned Oak Park at Westchase Business Park. Completed in 2008, the two-story building is 100 percent occupied by global engineering giant CB&I Inc.
Acquisition financing was arranged separately by 111’s relationship lender; International Bank of Commerce – Houston (IBC Bank).