HFF Announces Sale of Premier Class AA Office Building in Houston

Aug 08, 2018 04:23 pm

HFF announces the sale of Westway Plaza, a newly constructed, premier, Class AA office building totaling 313,420 square feet in Houston, Texas.

The HFF team marketed the property on behalf of Transwestern Development Co., and procured the buyer, The Aztec Fund, Inc., a private Mexican equity fund.

Westway Plaza is situated on 9.85 acres at 11330 Clay Road at its intersection with the Sam Houston Tollway in Houston’s West Belt Corridor. The property has direct access to major thoroughfares, including Interstate 10, U.S. 290 and the Grand Parkway, and is proximate to an abundant and talented labor pool. Completed in 2015, the LEED® Gold building provides maximum energy efficiency throughout its virtually column-less floor plates that feature floor-to-ceiling glass windows and nine-foot six-inch finished ceiling heights. Market leading amenities at Westway Plaza include a state-of-the-art fitness center with locker rooms, an on-site café, a 1,186-space attached structured parking garage and 24-hour security. Westway Plaza is fully leased to three tenants: General Electric Corporation, Superior Energy Services and TESCO Corporation.

The HFF investment advisory team representing the seller included senior managing director Jeff Hollinden and analyst Dane Petersen.

This is The Aztec Fund’s first purchase in the Houston market, complementing properties purchased in Dallas, Denver and Pittsburgh. Charles Haddad, Aztec’s President and CEO commented, “We are very excited about entering the Houston market! This will definitely not be our only purchase in this amazing city. Thanks to HFF and Transwestern for making this a truly successful transaction.”

Holliday GP Corp. ("HFF") is a Texas licensed real estate broker.

About Transwestern Development Co.

Transwestern Development Co. is a diversified business with expertise and experience in all commercial property types. The firm executes projects through a variety of venture and contract structures and has been creating commercial landmarks for itself, its partners and valued customers throughout the U.S. since 1978. Based in Houston, Transwestern Development Co. operates as a principal, investing capital alongside its institutional equity partners in the development of speculative and build-to-suit projects, and as a fee developer for clients and user-owners. The company has amassed valuable experience in construction, design, sustainability, leasing, acquisitions, finance and asset management. As a member of the Transwestern family of companies, the firm capitalizes on the market insights and operational expertise of its affiliates, which include a diversified real estate services firm with 35 U.S. offices and a real estate investment management company. Please visit www.transwesterndevelopment.com for more information.

About The Aztec Fund

The Aztec Fund (www.theaztecfund.com) is a private equity fund based in Mexico City that invests in commercial and industrial properties in the United States. The company focuses on properties that generate long term, consistent net operating income that is secured by quality tenants.

Its business strategy is based on its founders' experience to find the best opportunities in emerging cities with great potential for commercial and industrial development in the U.S. market, combined with privileged financing rates and low administrative overhead.

About HFF

HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.

JEFF HOLLINDEN, (713) 852-3500
TX Lic. #0398738
HFF Senior Managing Director
OLIVIA HENNESSEY, (713) 852-3500
HFF Public Relations Specialist