Investors take over Houston apartments
Tachus, a local fiber optic Internet service provider with more than 10,000 customers, has sublet 24,517 square feet at the Kiewit Building at 3831 Technology Forest Blvd. in The Woodlands. Zach Rogers and Ross Foldetta of Foldetta Commercial represented the subcontractor. Louie Crapitto of JLL represented the sub-donor, Kiewit.
A fund managed by a subsidiary of Ares Management Corp. purchased an industrial portfolio of six buildings totaling 1.5 million square feet, including over 600,000 square feet in the Houston area, from Chicago-based Molto Properties. Local properties include 625 Independence Parkway (414,000 square feet) and 645 Independence Parkway (194,610 square feet) in Deer Park. Adam Tyler, Jim Carpenter and Mike Tenteris of Cushman & Wakefield represented the seller. The portfolio, which included properties in Louisville, Kentucky, Chicago, Nashville and Cincinnati, is 94% leased to nine tenants. Ares Management acquired the real estate investment advisory and distribution business of Black Creek Group in the United States in July.