Colliers is pleased to announce the sale of the 4,596-square-foot commercial building situated on 1.42 acres located at 14139 Huffmeister Road in Cypress, Texas. The buyer, Heritage Presbyterian Church, was represented by Bill Ginder, SIOR & CCIM, with Caldwell Companies. The seller, Munequita Interests LLC, was represented by Tom Condon Jr. of Colliers.
“The marketing challenge was to identify a user that would close now yet allow the tenant to continue to occupy the building until January 31, 2025,” said Tom Condon Jr. of Colliers. “Colliers’ efforts produced multiple prospects with Heritage Presbyterian Church offering the highest price, the quickest close and enabling the tenant to stay as desired. The sellers and I appreciate Heritage’s energy in performing on time.”
The property is located in Houston’s FM 1960/FM 249 office submarket, which contains 4.2 million square feet of office space. The submarket is 61.8% occupied, with an average asking gross rental rate of $22.91 per square foot. During the first quarter of 2024, the submarket posted leasing activity of 88,676 square feet, and no buildings are currently under construction.
About Colliers
Colliers is a leading diversified professional services and investment management company. With operations in 68 countries, our 19,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 28 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of approximately 20% for shareholders. With annual revenues of $4.5 billion and $96 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors, and our people. Learn more at corporate.colliers.com, X @Colliers or LinkedIn.
