HOUSTON-Locally based Crimson Real Estate Fund LP (CREF) and USAA Real Estate Co. of San Antonio teamed up to buy eight acres on Houston’s west side. The result of this purchase will be a 97,500-square-foot build-to-suit headquarters that will be 100% leased to TGS-Nopec Geophysical Co.
The three-story office building, along with 408 surface parking spaces, will be on Clay Road, near Beltway 8. According to a press release about the project, the facility will allow for future growth. A groundbreaking date was not announced.
Patrinely Group LLC, the development management affiliate of CREF, will develop the building. Crimson Services, LLC, another CREF entity, will provide on-site property management. Jon Silberman of NAI Houston represented the tenant and Dennis Tarro of Crimson Services LLC represented the landlord in the transaction.