Press

Houston, TX, October 8, 2018 – The NAI Investment Fund announced that it successfully divested the 10,433-sq.-ft. retail building located at 19752 North Freeway, one of the two buildings located at Spring Park Village purchased by NAI last October.

The property was leased to a strong roster of local and national tenants, including Starbucks, AT&T, and OneMain Financial. Andrew Pappas and Adam Hawkins of NAI Investment Fund worked with Todd Carlson of Hunington Properties to close the deal and partnered with Peyton Jones at Green Bank to close the refinancing of the second half of the property at Spring Park Village.

“Our platform stays competitive through flexibility and efficient decision-making, allowing us to add significant value in a relatively expedient timeframe,” said Andrew Pappas, Senior Vice President of NAI Investment Fund. “ With the efforts of NAI’s Retail Services team, we negotiated the building’s critical renewals and executed our business strategy less than one year into the hold period, resulting in a successful exit for our investors.

Added Mr. Pappas, “We look forward to generating additional value for the shopping center and capitalizing on development opportunities with the raw land pad.”

The NAI Investment Fund recently closed fundraising for Fund II in February and expects to be fully deployed by year-end.  Fund III is expected to launch later this year.

The NAI Investment Fund I portfolio currently consists of the remainder of Spring Park Village; 11301 Fallbrook Drive, a medical office building in Houston; and Marymont Park, a one-story office park in northeast San Antonio. Fund II consists of San Marcos Place, a retail center in San Marcos; Wells Fargo Business Park, a flex/industrial project in North Houston; and Royal Montreal Plaza, a retail center in Katy. NAI expects to acquire one to two more properties by year-end for Fund II.

For more information about the sale of Spring Park Village, please contact Larry Koestler, Vice President of Marketing & Communications, NAI Partners at 713.629.0500.

About NAI Partners

Houston | Austin | San Antonio

NAI Partners is the 5th-largest Houston-Area Commercial Real Estate Brokerage, the #1 Mover of Square Feet among leasing and sales brokerages, the largest independently owned and among the largest owner-operated commercial real estate firms in Houston, Texas, per The Houston Business Journal. NAI Partners was founded and is headquartered in Houston and has offices in San Antonio and Austin; offers the geographic expertise to complete real estate transactions throughout the state of Texas; and can leverage the power of the NAI Global network to arrange deals in any location throughout the world. NAI Partners employs more than 100 real estate professionals, and arranges more transactions than any of its competitors, completing over 500 commercial lease and sale arrangements every year. NAI Partners is a full-service firm offering client leasing and sales solutions in the areas of office tenant representation, office landlord representation, industrial tenant representation, industrial landlord representation, landlord services, retail services, property management, investment sales, an investment fund, and project management, among other services. The company has been named a Best Place to Work by both the Houston Chronicle and Houston Business Journal, and is among the University of Houston’s Cougar 100 Fastest-Growing Companies.

Commercial real estate in Houston, Austin and San Antonio. NAI Partners offers full-service commercial real estate solutions to Houston, Austin and San Antonio, and has been serving the Houston commercial real estate needs of its clients for more than 20 years. We specialize in finding office space, industrial space and retail space, and can arrange an office lease, industrial lease or retail lease for your company. Our brokers help tenants and landlords or property owners of any size find the perfect real estate space or location for their business needs. For more information, contact us today.