Principal buys Woodlands' 145,000-SF Timberloch | Principal buys Woodlands' 145,000-SF Timberloch | https://www.recenter.tamu.edu/news/newstalk-texas/?Item=8955 | 2012-11-26T10:27:00Z | 2012-11-26T00:00:00Z |
THE WOODLANDS - Principal Real Estate Investors has acquired the 145,580-sf 2001 Timberloch Place from CBRE Global Investors.
Built in 1980, the office building is situated on eight acres in the mixed-use Town Center of The Woodlands. The property was remodeled in 2007, and is 100 percent leased to Repsol USA and Entergy Services, however, a 90,000-sf tenant is expected to vacate in April 2015.
Colliers International's 3Q 2012 office market research report points to a 5.8 percent vacancy in The Woodlands submarket. The submarket has close to 7 million sf in office space, with approximately 437,000 sf vacant. The bulk of the available space is among Class B buildings.
Read more at GlobeSt.com.
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