Hartman Income REIT Snags 254K-SF Office Portfolio

Hartman Income REIT, operating under the name Hartman vREIT XXI Operating Partnership LP, acquired a three-building, value-add Houston office portfolio for $20.7 million, according to an 8-K filing. The local buyer struck the deal for the 254,225-square-foot portfolio with seller HighBrook Investors (Houston Portfolio LLC), which is located in New York City.

Martin Hogan with JLL led the team that represented the seller, which had acquired all three properties in late 2013. Two of the buildings are in far west Houston, while the third is near Willowbrook Mall, in the metro’s far north submarket. The Class B buildings delivered in the early 1980s.

The portfolio consists of:

• 16420 Park Ten, a five-story, 84,000-square-foot building, 53% leased
• 1400 Broadfield, a six-story, 102,000-square-foot building, 70% leased
• 7915 FM 1960, a three-story, 67,500-square-foot building, 42% leased

Pictured: 16420 Park Ten, Houston

For comments, questions or concerns, please contact Amy Sorter