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HOUSTON-Triple Net Properties LLC has acquired the 82,000-sf Cypresswood Drive and adjacent 11,500-sf restaurant from a Spring, TX seller. Details about the deal were unavailable by sale time, but Harris County’s appraisal district has the building assessed at $10.67 million and the out-parcel building at $2 million.

The four-story, class A building at 9700 Cypresswood Dr. is situated on 7.5 acres in the Cy-Fair submarket on the city’s far northwestern side. The structure, now 91% leased, was completed in 2004 and 2005. Tenants include Parker Media Inc., ING Clarion Partners and Chicago Title Co. The pad-site tenant is Perry’s Steakhouse & Grille.

Seller 9700 Cypresswood Buildings LP was represented by Ryan Barr of Lee & Associates’ San Diego office. Wally Reid, senior director with Holliday Fenoglio Fowler LP’s Houston office arranged financing, which was provided through Wachovia Bank. Calls to Triple Net, Lee & Associates and HFF were not returned by press time.

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