Cost Savings and Opportunity for Growth Drove the Decision to Relocate
July 27, 2021
Houston – Transwestern Real Estate Services (TRS) announces the acquisition of a 5,304-square-foot building at 16920 Park Row Blvd. Transwestern Vice Presidents Evelyn R. Ward, CCIM, and Paula Musa represented the buyer, DRH & Associates, Inc., in the transaction. Houston MRI & Diagnostic Imaging will relocate its headquarters from its previous leased location at 9990 Richmond Ave. to this space.
“Even before the pandemic, smaller tenants were looking for owner-user building opportunities, taking advantage of the low-interest rates and benefits of ownership,” said Ward. “The biggest challenge in the Houston market is that inventory of well-located, quality owner-user assets is very limited. After more than a year, we were able to identify the right opportunity that met the client’s needs, services and expansion plans.”
16920 Park Row Blvd. is move-in ready and includes a 1.3-acre parcel of land, which can accommodate Houston MRI & Diagnostic Imaging’s anticipated future expansion and company growth. Located in the Energy Corridor, the property offers high-exposure monument signage on Park Row Boulevard. The asset is in proximity to Interstate 10 and in-demand retail amenities.
Transwestern will continue to provide Tenant Advisory + Workplace Solutions and Agency Leasing services for Houston MRI & Diagnostic Imaging as it expands to other submarkets, including Friendswood, Pearland and Kingwood.
Jason Herbrich and Anthony Fritsche of Fritsche Anderson Realty Partners represented the seller, Four T Management, LLC, 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. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, and investment management. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.
Senior Vice President