Commercial real estate services firm SVN | J. Beard Real Estate recently announced the sale of two six-story office buildings in The Woodlands, Texas — Town Center One, located at 1450 Lake Robbins Dr., and Town Center Two at 1330 Lake Robbins Dr.
Totaling 275,000 square feet of suburban Houston office space, the two buildings are part of The Woodlands Town Center and Woodlands Waterway expansion that took place two decades ago. Woodforest National Bank was the largest occupant in the project at the time of sale and is one of the original tenants of Town Center from its initial development.
According to CommercialEdge research data, Town Center One was completed in 1998 and incorporates nearly 140,000 square feet across six stories, with floor plates spanning 24,331 square feet. Meanwhile, Town Center Two is of similar age and size, also six stories tall, and includes floor plates that are slightly smaller at 23,308 square feet. The two office properties are graded class A and share access to a multi-level parking structure that accommodates nearly 500 spaces.
“We are grateful to be involved representing the buyer in this purchase of these truly iconic office buildings,” said Managing Director of SVN | J. Beard, Jeff Beard, CCIM. “As the largest occupant in the project and one of the original tenants of Town Center from its initial development, this is a strategic acquisition and a great long-term asset for Woodforest. The purchase will allow the bank to ensure its ongoing presence and expand on its long-standing commitment to The Woodlands and Town Center. It was amazing to watch this deal come together for assets most experts would consider irreplaceable for this marketplace. The level of collaboration and teamwork was extraordinary for a transaction of this complexity in a short timeframe, with closing at year-end in less than 40 days from actual contract signing.”
SVN | J. Beard Real Estate will provide leasing and property management services for Town Center One and Two. The firm represented the buyer during the transaction, while Jeff Hollinden, Kevin McConn, Jack Moody, and Sherri Rollins of JLL worked on behalf of the Town Center property seller.
Around the same time at the close of last year, SVN | J. Beard also represented Woodforest National Bank in the sale of its office building in Kingwood, Texas. Located at 1710 W. Lake Houston Pkwy within a growing residential and commercial submarket, the Class A office building encompasses 26,325 square feet of office space and retail. Also known as Woodforest Plaza at King’s Harbor, the property was designed and built by Woodforest National Bank primarily for retail banking and operations as part of the mixed-use King’s Harbor development in 2007.
At the time of the sale, the multi-tenant property included a mix of corporate tenants. Notably, Genesis Medical Group will occupy the majority space as part of an expansion of the group’s highly rated Primary Care, Medical Spa, and Urgent Care.
SVN | J. Beard Real Estate represented both the seller and the buyer in this transaction.
“It was a pleasure to work with a great long-term client in Woodforest and another team member of the SVN | J. Beard Real Estate – Greater Houston on this deal,” Beard said. “Representing both the buyer and the seller gave us a unique opportunity to showcase the ‘SVN Difference’ and be creative, ensuring both parties fully reached their objectives creating a win for all involved.”
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