NAI Partners Landlord Services Division to lease and manage property
NAI Partners’ Investment Fund platform is pleased to announce the closing of its third Fund III acquisition, Avera Commerce Center, a 16-building, 245,495-sq.-ft. single-story flex industrial park on 14.56 acres in the heart of Stafford, Texas.
Andrew Pappas and Adam Hawkins of NAI Partners’ Investment Fund negotiated and closed the deal. Natalie Garza with Amegy Bank arranged the debt financing.
“This deal marks the twelfth acquisition for the NAI Investment Fund platform and officially pushes our current portfolio over 1 million sq. ft., 327 tenants, and over $125 million in transaction volume,” said Mr. Pappas, Partner at NAI Partners and head of the NAI Investment Fund. “We are thrilled to add a quality asset like Avera Commerce Center to the NAI Investment Fund III portfolio.
Added Mr. Hawkins, “This property provides our investors strong in-place cashflow combined with tremendous upside through vacancy lease-up, mark-to-market rates, and meticulous asset management.”
NAI Partners’ Landlord Services Division has been hired to manage the property, with leasing assigned to Andy Parish and Lesley Rice of NAI Partners’ Office Project Leasing team.
For additional information regarding the NAI Investment Fund platform, please contact Andrew Pappas at 713.629.0500.
About Partners
Partners is the 5th-largest Houston-Area Commercial Real Estate Brokerage, the #1 Mover of Square Feet among leasing and sales brokerages, the largest independently owned and among the largest owner-operated commercial real estate firms in Houston, Texas, per The Houston Business Journal. 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 of Texas; and can leverage the power of the NAI Global network to arrange deals in any location throughout the world. Partners employs more than 100 real estate professionals, and arranges more transactions than any of its competitors, completing over 500 commercial lease and sale arrangements every year. Partners is a full-service firm offering client leasing and sales solutions in the areas of office tenant representation, office landlord representation, industrial tenant representation, industrial landlord representation, landlord services, retail services, property management, investment sales, an investment fund, and project management, among other services. The company 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. Please visit us on the web at www.naipartners.com.
