David Butler with the Houston office of Colliers Internationaltells GlobeSt.com that the property at 8800 Katy Freeway received ahandful of offers during the marketing period. The buyer of record,Bluebonnet Dr. LP and Katy 8800 LP, assumed a loan to take over theasset. Butler, though, is standing behind the confidentialityclause and not discussing the financials.

The seller, TA/Hedwig Square Ltd., another local investmentgroup, acquired the property in 1996 and extensively rehabbed it,Butler says. The lead tenant is Memorial Clinical Association,which occupies 20,000 sf or the entire second floor. Butler saysthe lease roll is stable.

The 3.4-acre property sits in a hot retail spot with KatyFreeway frontage. The freeway is in line for major construction,but Butler says the property can be accessed from three streets soit will still be accessible regardless of a detour.