Houston, Tx – June 28th, 2019 — Houston based real estate private equity firm, MarketSpace Capital successfully acquired a single-story office building located at 3808 World Houston Parkway, near George Bush Intercontinental Airport. MarketSpace Capital consummated this transaction in sixteen days from contract to close.
MarketSpace Capital was represented by Sam Affanhe of Hunington Properties and the seller was represented by Micha Van Marcke from Edge Capital Markets. Financing for the acquisition was provided by AMI Lenders.
The property totals 22,423 SF on 2.8 acres, was constructed in 1999 and is currently available for lease. “We love this deal because of the proximity to George Bush Intercontinental Airport and the excellent condition of the building” said Dr. Masaki Oishi, Chairman at MarketSpace Capital. “Additionally, the building features covered parking as well as easy access to the city’s main thoroughfares. Further, the move-in ready condition coupled with a flexible building structure provided us an investment opportunity that was well below replacement cost” said Dr. Oishi.
3808 World Houston is located just north of Beltway 8 at JKF Blvd. The Property’s position within the North Belt / IAH submarket offers unparalleled access to Beltway 8, Hardy Toll Road, Interstate 45 North and Interstate 69/Highway 59. The property is also surrounded by a high concentration of well-occupied flex industrial which underpins the sustainability of the immediate area.
About MarketSpace Capital: MarketSpace Capital is a Private Equity Real Estate Firm that focuses on sourcing value-add commercial real estate investments for our capital partners. Through our relationships, expertise and disciplined, data-driven analysis, our veteran staff has the capability and experience required to maximize value creation through a comprehensive, programmatic and conservative investment and asset management approach. In addition to producing consistent returns, we seek to create positive economic impact and long-term value for our investors, the properties we invest in, and the communities in which we work.
To learn more, visit https://marketspacecapital.com.