Houston – Transwestern Real Estate Services (TRS) announces it has negotiated a 20-year, 2.46-acre ground lease at 7620 Washington Ave. in Houston. Transwestern Executive Managing Director Jeff Peden and Senior Director Scott Miller, in concert with Bill Bledsoe, Senior Vice President with Henry S. Miller in Dallas, provided tenant representation services on behalf of Grubbs Automotive. Grubbs plans to convert the existing 12,595-square-foot showroom and 19,250-square-foot warehouse building into a new Volvo automotive dealership.
“As Washington Ave. continues to experience new, positive growth, this is an excellent addition to the area,” said Peden. “It was a pleasure to work with Bill Bledsoe and his client to help Grubbs Automotive plant its first flag in Houston.”
The property, previously known as Western Brick & Stone, was built in 2008 with concrete deck construction and is fully sprinklered. Located in Houston’s rapidly transforming Design District, the site is one block from I-10, offering outstanding accessibility and visibility from I-10 and Washington Ave. The location is appealing to the tenant due to the proximity of dealerships along Old Katy Road and to Memorial Park, immediately south of I-10.
John Hoag represented the landlord, Levcor, in the transaction.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. An integrated approach formed from fresh ideas drives value for clients across commercial real estate services, development, investment management and opportunistic programs for high-net-worth investors. The firm operates through 34 U.S. offices and global alliances with BNP Paribas Real Estate and Devencore. Learn more at transwestern.com and @Transwestern.
Media Contact:
Ashley Haigh
713.490.3793
ashley.haigh@transwestern.com
twmediarelations@transwestern.com
