NAI Partners—the commercial real estate services business of Partners Real Estate Company—is pleased to announce that its Texas Investment Sales Division has been named the exclusive sales agent for the Partners Capital-owned Point West Business Park, a 146,000-sq.-ft. flex industrial park located at 10161 Harwin Drive in Houston, Texas.
NAI Partners’ Josh Lass-Sughrue, Senior Vice President; Wyatt Huff, Senior Associate; and Cary Latham, Senior Associate; are the brokers marketing the property.
“We purchased Point West in September 2019 during the deployment of our third fund, and in less than two years our world-class asset management team has worked in lockstep with NAI Partners’ Landlord Service Division’s Office Project leasing and Property Management teams to ensure an exceptional experience for our tenants alongside substantive improvements to increase occupancy and we expect efforts will generate a strong return on investment for our fund subscribers,” said Andrew Pappas, Partner and Managing Director, Partners Capital.
“We’re excited to partner with Partners Capital to sell this premier asset located just south of the Westchase District,” said Scott Lunine, Managing Director of NAI Partners’ Texas Investment Sales Division.
Point West Business Park is an in-fill light-industrial portfolio located in close proximity to major highways & thoroughfares within the Southwest Houston submarket. The portfolio consists of three single-story, rear-loading buildings with suites available in a range of sizes and multiple configurations. Suites are configured with a mix of retail, showroom, office, and warehouse space, and offer various loading capabilities including dock, semi dock, and grade-level. The property features excellent visibility along Harwin Drive, with an average traffic count of 24,424 vehicles per day. With excellent highway accessibility and immediate proximity to Westpark Tollway and Beltway 8, Point West Business Park sits within a 10-minute drive to both Interstate 10 & Interstate 69. The portfolio has maintained strong historical occupancy and is currently 87.15% occupied. Lease renewals and turnover in the near-term provide strong upside potential for prospective buyers, with below market rents that allow for new ownership to significantly increase returns over the next 12-18 months.
About NAI Partners
NAI Partners was founded and is headquartered in Houston and has offices in San Antonio and Austin; offers the geographic expertise to complete real estate transactions throughout the state; and can leverage the power of the NAI Global network to arrange deals in any location around the world. NAI Partners employs more than 180 real estate professionals, and arranges more transactions than any of its competitors, completing over 700 commercial lease and sale arrangements every year. NAI Partners is a full-service firm offering client leasing and sales solutions in the areas of Office Tenant Representation, Industrial Services, Retail Services, Office Project Leasing, Industrial Project Leasing, Retail Project Leasing, Property Services, Investment Sales, Valuation and Advisory Services, Project Services, Land Sales, and Life Sciences & Healthcare Services, among other lines of business. NAI Partners is the top Houston-based full-service commercial real estate firm on the Inc. 5000 list of fastest-growing private companies in America; the 5th-largest Houston-Area Commercial Real Estate Brokerage and #1 Mover of Square Feet among leasing and sales brokerages in Houston per the Houston Business Journal; the only commercial real estate firm on the Houston Business Journal’s Mid-Market 50 list; a top 12 largest San Antonio Commercial Real Estate Brokerage per the San Antonio Business Journal; and a top 20 Property Management Firm by square feet under management in Houston per the Houston Business Journal. NAI Partners has been named a Best Place to Work by the Houston Chronicle, Houston Business Journal and Austin Business Journal; and is among the University of Houston’s Cougar 100 Fastest-Growing Companies. Visit us on the web at www.naipartners.com. NAI Partners’ holding company is Partners Real Estate Company, which also owns Partners Capital, a real estate investment fund platform; and Partners Development, an in-house development company delivering ground-up, build-to-suit, and development investment projects. Visit Partners Real Estate Company on the web at www.partnersrec.com
