Creekstone Partners secured a $6.2-million loan to acquire theasset at 8401 New Trails Dr., which is assessed at $4.2 million byMontgomery County. Harbor Capital Group, also from Houston,arranged the financing through the Cleveland-based KeyBank. Thoughthe final price is off limits, Creekstone president Michael Prestonsays they paid a little more than the loan amount to buy the6.5-acre property.

"This asset in particular has a superb tenant, a good credittenant," Preston says. "Hewitt was one of the first employers inthe Woodlands. And, they've been in that building for awhile." Hetells GlobeSt.com that Hewitt has five years left on its lease, butit does include the traditional option to renew.

The investment group is searching for retail, single-tenant andmulti-tenant buildings with values in the $20-million to$100-million range. "This fits in very well with what we're lookingfor," Preston says. "We have a diverse portfolio of office, retailand multifamily, and we'll continue to look for more opportunitiesin the Woodlands." But for now, nothing else is under contract inthe 27,000-acre, master-planned development.