Stan Johnson Company Arranges Sale of 4-Building Medical Office Park North of Houston, Texas

Altemus-OfficePark

Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a four-building medical office park located at 4701 Farm to Market 2920 in Spring, Texas. Combined, the properties total 20,191 square feet, and at the time of sale, the complex was 83 percent leased. Evan Altemus of Stan Johnson Company represented the seller, a Texas-based developer. The property was purchased by an individual investor from Houston, Texas for an undisclosed price.

“Investment demand for Houston multi-tenant properties continues to be high with both Texas-based investors and also national investors due to the continued population and business growth,” said Altemus, Associate Director in Stan Johnson Company’s Dallas, Texas office. “Competitive offers were received from both in-state and out-of-state investors, and this asset was unique because of its high-quality construction and ability for an owner to easily divide each building into a variety of different floorplans.”

The complex was built in 2015 and 2016 and is situated on 1.9 acres in a northern suburb of Houston, Texas. All tenants operate on triple net leases.

“The strong leasing activity in the Spring, Texas area, especially post-COVID, was appealing to investors, as local rents have grown at least 15 percent over the last 12 to 18 months,” Altemus added. “The complex has seen the strongest demand from medical tenants, but retail tenants also had interest in the property, as they search for lower rents than can be found in the area’s power centers. This made the asset even more appealing to buyers.”

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About Stan Johnson Company:

Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses on investment sales transactions involving retail, office, industrial, healthcare, and specialty properties. The firm and its affiliates provide acquisition, disposition, sale leaseback, capital markets, and advisory services for institutions, developers, investment funds, corporate occupiers, and private investors across the United States. With a historic focus in the single-tenant net lease sector, Stan Johnson Company is now in its fourth decade of operation and has expanded its service platform in order to better serve its valued clients. The firm has completed more than $45 billion in transactions nationwide and continues to be regarded as the Net Lease Authority® as it focuses on continued growth and expansion into other industry sectors and services.