HOUSTON–An affiliate of Hartman Short Term Income Properties XX Inc. has purchased Mitchelldale Business Park. The 377,752-square-foot, 12-building industrial park was sold by an affiliate of Falcon Southwest.
“We are pleased about investing at this strategic infill location with excellent access and diverse tenant base which provide attractive stability and opportunity for growth,” says Dave Wheeler, CIO and executive vice president of Hartman Advisors LLC.
The business park is 92% occupied. Tenants of the property include Craven Carpet, A Better Trip, GC Services and LOYC Investments.
Rusty Tamlyn and Trent Agnew of HFF represented the seller, while Dave Wheeler, Julian Kwok and Russell Turman represented the buyer.
Hartman is a real estate investment trust based in Houston. The company owns and manages 38 properties for a total of 5.4 million square feet of office, industrial and retail space. The portfolio assets are in Houston, Dallas and San Antonio.