Acquisitions

Mason Creek Office Center 1

June 9, 2015
Office

21420 Merchants Way, Katy
Purchased: 2015
Price: $38,500,000

Nicola Crosby, a subsidiary of Nicola Wealth Management, is pleased to announce the acquisition of Mason Creek Office Center 1, a Class A office building situated in the Katy Freeway West submarket in Houston. This is the first commercial acquisition for Nicola Crosby in Houston. Mason Creek Office Center 1 was constructed in 2013 and consists of a two-storey, certified LEED Silver Core and Shell office building comprising 135,716 rentable square feet on a 10.8-acre site that includes a generous parking ratio. The property is 100% leased by Government Employees Insurance Company (GEICO), the second largest private passenger automobile insurance company in the US and a wholly-owned subsidiary of Berkshire Hathaway. This asset features a long-term lease with contractual annual rental increases.

Special Thanks To:
Broker – Robert Williamson, Dan Miller, Jeff Hollinden, & Rusty Tamlyn (HFF Houston)
Financing – Cortney Cole (HFF Houston)

For more information, please contact any of the following:

About Nicola Wealth Real Estate

Nicola Wealth Real Estate is the in-house real estate division of Nicola Wealth.  Our team acquires and manages properties for Nicola Wealth’s real estate portfolios.  We are an experienced team with a disciplined approach, dedicated to building high quality real estate portfolios that are diversified both geographically and by asset type.

About SPIRE Real Estate Portfolios

SPIRE Real Estate LP is an investment portfolio comprised of retail, industrial, office, multi-family, seniors and self-storage properties totaling 3.7 million square feet located in major Canadian markets. SPIRE US LP is an investment portfolio comprised of office, retail and industrial properties located in Seattle, San Francisco, Denver, Phoenix, Houston and Chicago. The portfolio also includes interests in over 14,000 multi-family apartment units located in the South and Southeast US. SPIRE Value Add LP is a new addition to the SPIRE and SPIRE US investment portfolios and focuses on generating returns through re-sale of investments in multiple projects using “value-add strategies.”