The eight-year-old development, positioned on 3.1 acres at 6830 N. Eldridge Pkwy., was 91% occupied at sale time. "He liked the location. It had a good mix of tenants and seemed to be a strong investment for him," explains Pasha Darvishian of Marcus & Millichap's Real Estate Investment Brokerage Co.'s Newport Beach, CA office, who represented the investor. Monte Lowrey with Marcus & Millichap in Houston was on hand for the seller, Four Seasons Center LP of Lakeway.

Darvishian tells GlobeSt.com that Four Seasons Business Park came to his attention through the brokerage house's internal network. He says he'd recommended the deal to several Southern California buyers who were looking for investments in smaller office properties.

"This buyer liked it, was willing to make an offer," Darvishian says, "and we put a deal together." He says the new owner is planning to retain the property as a long-term hold, without any immediate plans for a renovation. "The property was in good shape."

Darvishian says the first lease expirations for the new owner begin in the third quarter. The two-building park includes local and regional tenants such as Garden Park International, On-Grade Systems Inc., Bull Dog Tool Inc., Phoneline Tech Inc. and North Cypress Medical Center. The office spaces vary from 1,375 sf to 9,000 sf.