Katy Office Building Sold to Canadian Investor

KATY (HFF) – HFF has closed the sale of and arranged acquisition financing for Mason Creek I, a two-story, 135,716-sf office building.

The firm marketed the property on behalf of the seller, a Boston-based real estate advisor. Nicola Crosby Real Estate, a Canadian investor, purchased the asset. HFF also worked on behalf of Crosby to secure a five-year, fixed-rate acquisition loan through Principal Real Estate Investors.

Mason Creek I, developed by Myers Crow & Saviers Ltd. in 2013, was the first office building to be developed within the 110-acre Mason Creek Corporate Business Park, which fronts I-10 and is one exit from SH 99.

The property is on 10.8 acres at 21420 Merchants Way and is fully leased on a net basis to GEICO.