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Retail shopping center is the 7th asset in Partners’ Fund IV portfolio
Houston, TX, November 4, 2022 – Partners Capital, the investment and development platform of Partners Real Estate (“Partners”), announced today that it has acquired Mason Point Shopping Center, a 99,001-sq.-ft. mixed-use warehouse and retail asset located at 510-514 South Mason Road & 535 Applewhite Drive in Katy, Texas. The property was acquired through the Partners Fund IV Investment vehicle. The property is currently 90% leased and sits less than half a mile south from Interstate 10.
“Partners Capital has experience investing in retail along Mason Road and we understand the dynamics of the submarket,” said Andrew Pappas, Partner and President of Partners Capital. “The flex portion of Mason Point made the property even more attractive as there is elevated demand for flex product across the city.”
“We are planning to improve the asset’s curb appeal and enhance visibility to capitalize on the high traffic counts along Mason Road. Our leasing and asset management team specialize in this product and we look forward to delivering value at Mason Point for our tenants and investors,” said Adam Hawkins, Partner at Partners Capital.
Charlie Strauss with JLL represented the Seller on the transaction. Financing was provided by Origin Bank.
This marks the 7th asset for Partners Fund IV and their third acquisition in 2022. Partners Capital has completed over $370 Million in transaction volume during the last five years. Their current portfolio comprises of more than 1 million sq. ft. of retail, industrial, and office properties.
For additional information regarding Partners Capital, please contact Andrew Pappas at 713.629.0500. For new Partners Capital acquisition or disposition opportunities, please contact Adam Hawkins at 713.985.4604 or via email at [email protected].
Partners is the 2nd-largest partner-operated, privately-held and independently-owned commercial real estate firm in the state of Texas. Partners was founded and is headquartered in Houston and has offices in San Antonio, Austin and Dallas; employs more than 200 real estate professionals; and arranges more transactions than any of its competitors, completing over 700 commercial lease and sale arrangements every year. Partners is a full-service commercial real estate firm providing client solutions via its services business for Office, Industrial, Retail, Land, Life Sciences, and Multifamily product types across Brokerage Services, which includes Tenant Representation, Investment Sales, and Land Sales; Investor Services, which includes Property Management, Project Leasing, Project Management, and Facilities Management; Valuation Services, which includes Valuation & Advisory, Litigation & Expert Witness Testimony, Property Tax Consulting, and Institutional Fund Valuation; and Project Services, which includes Construction Management and Space Management; and creating value for its investors through its Private Equity line of business, which includes its investment management platform specializing in the acquisition and disposition of office, industrial, and retail multitenant properties via multiple investment funds, and the development of retail, industrial, office, and mixed-use projects. Partners is the top Houston-based full-service commercial real estate firm on the Inc. 5000 list of fastest-growing private companies in America; the 4th-largest Houston-Area Commercial Real Estate Brokerage, #1 Mover of Square Feet among leasing and sales brokerages, and largest partner-operated, privately-held and independently-owned commercial real estate firm in Houston per the Houston Business Journal; the only commercial real estate firm on the Houston Business Journal’s Mid-Market 50 list; a top 3 largest San Antonio Commercial Real Estate Brokerage per the San Antonio Business Journal; and a top 20 Property Management Firm by square feet under management in Houston per the Houston Business Journal. Partners has been named a Best Place to Work by the Houston Chronicle, Houston Business Journal and Austin Business Journal; and is among the University of Houston’s Cougar 100 Fastest-Growing Companies. Visit us on the web at www.partnersrealestate.com