August 9, 2018
The Aztec Fund Inc., a private equity fund located in Mexico, struck a deal to buy Westway Plaza, a 313,420-square-foot, Class A office building at 11330 Clay Rd. on Houston’s northwest side. The building is 100% leased, with General Electric Co. as the anchor tenant.
The seller, Transwestern Development Co., completed the LEED Gold-certified building in 2015; on-site amenities include a full-service deli and fitness facility. Situated on 9.9 acres, Westway Plaza is also home to Superior Energy Services and TESCO Corp. Jeff Holinden and Dane Petersen with HFF represented the seller.
“Given the recent softness in the broader market, this sale is a testament to the importance of location fundamentals and a well-conceived design,” said TDC’s Sean Suffel. “The other critical piece is always the leasing, and our internal team did an excellent job of securing institutional tenancy long before Westway was even completed, ensuring the long-term viability of the project.”
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