16 Acres with 280,000-SF Houston Design Center sold16 Acres with 280,000-SF Houston Design Center soldhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=31532014-09-08T11:45:00Z2014-09-08T06:51:00Z

HOUSTON - MLB Capital Partners has purchased a 16-acre property at 7026 Old Katy Rd. that includes the Houston Design Center, a sprawling 280,690-sf space with more than 40 showrooms and design offices catering to the luxury residential and commercial market.

The building was developed in the 1980s and is about 95 percent leased. The new owner is building a list of potential tenants that would want to be in the property, but the facility has generally stayed full.

"We've got one space that's coming up that would be 10,000 sf and we have a tenant already identified," Fred Baca of MLB Capital Partners said.

Just north of I-10 inside the 610 Loop, Old Katy Rd. is increasingly becoming home to more upscale developments. Baca notes a high-end single-family housing community slated for the east side of the center and a luxury apartment project that is planned on the west side.

MLB Capital Partners purchased an additional three acres of undeveloped land on the south side of the design center property. MLB will either work with a developer to build something there or sell it.

The center was purchased from RC Partners.

Houston Chronicle
Houston-The Woodlands-Sugar Land
http://www.houstonchronicle.com/business/columnists/sarnoff/article/Developer-doubles-down-in-med-center-5734747.phpRead more at {Source}

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