Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOUSTON-First-time buyers have picked up a 27,250-sf suburban office building, swooping in to make a close one after contract fell out for the fully occupied asset. The 2218 North Park building in the Kingwood section of North Houston was on the market six months for $2.2 million.

Shawn Ackerman in the Houston office of Dallas-based Henry S. Miller Commercial represented the sellers of record, Shomer XIV Ltd. The asset “didn’t fit their future plans,” he says of the Houston-based investors’ motivation to sell.

The buyers, 2218 North Park LP, used an internal representative to negotiate its first acquisition. Ackerman tells GlobeSt.com that a previous contract fell out and put the first-time buyers in place.

The 23-year-old building is leased to smaller tenants who have been in place for years, Ackerman says. The two-acre property, surrounded by retail projects, sits at the entrance to the North Park subdivision.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.