Sales

OFFICE

Nicola Crosby Real Estate, a Canadian investor, has purchased Mason Creek I, a two-story, 135,716-square-foot office building at 21420 Merchants Way at Interstate 10. Developed by Myers Crow & Saviers in 2013, Mason Creek I was the first office building to be developed within the 110acre Mason Creek Corporate business park in Katy. The property sits on 10.8 acres and is fully leased to Geico for a regional claims processing center. Robert Williamson, Jeff Hollinden, Dan Miller and Rusty Tamlyn of HFF marketed the property on behalf of the seller, a Boston-based institutional real estate adviser. Cortney Cole of HFF arranged a loan through Principal Real Estate Investors for the buyer. Myers Crow & Saviers recently completed Mason Creek II, a three-story, 127,000-square-foot office building and plans to put up a third building.

K.M. Patel has purchased 4404 Allenbrook Drive, a 3,750-square-foot office/shop building in Baytown. Wade Sinclair with Claire Sinclair Properties handled the sale.

PARKING

San Diego-based MVP REIT has purchased the four-story Saks Garage at 611 Fannin in downtown Houston as part of a parking property buying spree in five cities. The $8.375 million purchase was made through the company’s MVP Houston Saks Garage entity, according to the company. The garage consists of 265 parking spaces and a total of 90,750 square feet, and it is within walking distance of Minute Maid Park, the George R. Brown Convention Center and Discovery Green. Other properties were purchased in Fort Worth, St. Louis, Milwaukee and Denver for a combined total of $36 million. The garage is 100 percent leased to iPark Services, a Houston-based parking operator.

LAND

Baytown Floors has purchased 1.2 acres on Texas 146 for a retail location. The site is two blocks south of the Chambers Town Center anchored by a Wal-Mart. Wade Sinclair with Claire Sinclair Properties handled the sale.