Weingarten Sells: Again

HOUSTON-In its second industrial disposition in less than a week, Weingarten Realty has sold its 100,600-square-foot Jester Plaza to a private entity operating under the name Jester Plaza Ltd. The sale occurred on the heels of the sale of Central Park Northwest last Thursday.

The company’s vice president/director — industrial properties Kelly Landwermeyer told GlobeSt.com the disposition of the industrial service center on 3500-3582 W. T.C. Jester Blvd. is part of Weingarten’s overall disposition strategy of non-core industrial asset, which includes service centers and flex properties.

He says another asset is under contract and scheduled to close within the next few weeks. “There are another half-dozen on various pre-contract stages in the pipeline,” he explains, adding that there are no set deadlines for closings by the end of 2009.

Jester Plaza was 90% leased at closing. Negotiations were handled by David Boyd, Principal of Boyd Commercial Real Estate Services, on behalf of Weingarten. Local real estate agent Karen Stumbough represented the buyer.