THE WOODLANDS, TX-Triple Net Properties LLC has disposed of the last piece of a two-building office complex. The 95,973-sf Parkwood II, near Woodlands Town Center, was on the market for $12.8 million.

The Santa Ana, CA-based investment group bought Parkwood II at 10055 Grogans Mill Rd. and its sister, Parkwood I at 10077 Grogans Mill Rd. in 2002 for $20 million. Triple Net sold Parkwood I in summer 2005 for a reported $12 million. Both buildings were developed by the Woodlands Operating Co.

Representatives from Triple Net could not be reached by press time about the pass to CNC Investment Ltd. LLP of Houston.

At the time of sale, the 1994-constructed Parkwood II, situated on 5.42 acres near Woodlands Waterway, was 100% occupied by two tenants: Entergy Service Inc. and Technology Partners International. Darrell Betts of Grubb & Ellis Co. in Houston represented Triple Net Properties and the buyer.

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