HOUSTON, TX – Griffin Partners, Inc. in partnership with Wheelock Street Capital announces the purchase of 4414 Hollister, a Class B in-fill 25’+ clear industrial project totaling 234,315 square feet including 3.0 acres of developable land in Houston, Texas. The Project was purchased from Georgia Pacific Inc. The asset is located 1/4 mile north of Hempstead Highway off Hollister Road, approximately 1 mile south of Hwy. 290 just outside Loop 610.
Minor renovations completed over the next several months will allow for a new user(s) to occupy all or part of the Project. The building is fully sprinklered (ESFR & Class IV) with trailer storage, existing security fencing, ample surface parking options, 25 dock-high doors, 60’ bay depths for wide speed-bays, as well as the capacity for tenants to grow outside the existing building structure with an additional 50,000 square feet building on the adjacent land. This in-fill location allows tenants immediate access to all areas of the Houston metro via this 290 corridor location.
About Griffin Partners
Griffin Partners, Inc. is an owner and operator of commercial real estate properties throughout Arizona, Colorado, North Carolina, and Texas with a current portfolio of 4.2 million square feet valued at over $600 million. Established in 1980, Griffin Partners has acquired, developed, or managed over 13 million square feet of office, retail, and light industrial property since its founding, valued at over $1.9 billion. 4414 Hollister was purchased by Griffin Partners Fund III (“Fund III”), its 6th investment since its inception in June 2016. Fund III owns 1.6 million square feet of office and industrial in six (6) assets totaling approximately $240 million in asset value.
About Wheelock Street Capital
Wheelock Street Capital was formed in 2008 by Rick Kleeman and Jonathan Paul, two veteran real estate private equity investors, each with over 25 years of broad real estate transaction experience across all major asset classes. Wheelock has since raised over $2 billion in capital commitments and is currently investing its fifth fund comprising $725 million of commitments from leading pension funds, endowments and foundations. Wheelock will invest in a broad range of real estate assets throughout the United States. The fund may invest directly or with high quality joint venture partners through a variety of capital structures and transaction types, including acquisitions, restructurings, and recapitalizations.