FOR IMMEDIATE RELEASE
Hartman Income REIT, Inc., a Houston based Real Estate Income Trust, announced today that Hartman 1960 Properties, LLC, its jointly owned subsidiary, has purchased 616 FM 1960 from Koll Bren Fund V (KBS).
The 142,194 square foot, eight (8) story building is located at 616 FM 1960 West, approximately five (5) miles from George Bush Intercontinental Airport and adjacent to Interstate 45 and the Hardy Toll Road.
Lead tenants at 616 FM 1960 include: Chase Bank a leading global financial service firm, and AEI Engineering, a Houston based civil engineering consulting firm. 616 Fm 1960 is currently 74% occupied. 616 FM 1960 is located in the vibrant FM 1960 office submarket in North Houston, and Hartman Income REIT’s business plan is to stabilize the building at current submarket rates.
Mark Lucescu of Lucescu Realty in Newport Beach, California represented the seller, KBS, in the transaction and Dave Wheeler and Julian Kwok represented the buyer, Hartman Income REIT.
HARTMAN INCOME REIT’S EXISTING PORTFOLIO
Hartman Income REIT, Inc., headquartered in Houston, Texas, is a $300,000,000 Real Estate Investment Trust which owns and/or manages 30 properties and 3,500,000 square feet of office, industrial and retail space in Houston, Dallas and San Antonio, Texas. For more information, please contact Dave Wheeler, at 713-467-2222.