HOUSTON – (Realty News Report) – Vista Cos. has acquired a mixed-use property in the NASA space center area of the southeast side of Houston.
The 30,061 SF center, located at the intersection of Clear Lake City Boulevard and El Camino Real, includes retail and office space.
The center, which is are 95 percent leased, has a tenant roster including NVA Bay Glen Animal Hospital, and Sukkar Aesthetic Surgery, and JSC (Johnson Space Center) Federal Credit Union and others.
The Clear Lake area has seen a rebound in potential as space travel increases with participation by companies such as SpaceX.
“With all the enthusiasm surrounding the resumption of U.S. human space travel aboard U.S. made spacecraft and the promising outlook for increased space-related business activity, the NASA-area markets of southeast Harris County have gained a great deal of momentum,” said Dan Seal, Executive Director – Economic Development of the Bay Area Houston Economic Partnership. “We anticipate a strong 2021.”
James Bell of Marcus & Millichap represented the seller of the Clear Lake property, Visionary Investors, Ltd, and the closing of the transaction was handled through Lesley Mann of Charter Title Company. Acquisition financing was provided by Jasmine Sadeghpour at Frost Bank.
The purchasing entities were real estate investment partnerships sponsored by The Vista Companies -Reserve at Grand Parkway, Ltd. and Vista Clear Lake Ltd.
The Vista Cos., founded in 1985 by Woody Mann Jr., is a Houston-based real estate services group specializing in real estate development, acquisitions, brokerage, leasing, and property management.
Vista is well known for a cornerstone west Houston development – LaCenterra at Cinco Ranch, a 34-acre, 360,000-SF mixed-use development off the Grand Parkway, three miles south of Interstate 10. The LaCenterra project was instrumental in establishing the Grand Parkway as a commercial corridor in West Houston.
Vista’s Woody Mann Jr. has been a leader in the Katy Area Economic Development Council for a number of years.
Aug. 14, 2020 Realty News Report Copyright 2020
File: Vista Acquires Center near NASA. File (2) Vista Acquires Center near NASA as Human Space Travel Evolves