11/19/2007

Argus acquires three Houston office properties

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16420 Park Ten Place

San Clemente, Calif.-based Argus Realty Investors has acquired three Houston, Texas office buildings from Houston-based Caldwell Cos. for a price in the mid-$20 million range.

Darrell Betts of Grubb & Ellis represented Caldwell while J. Drever and Haris Totakhail represented Argus in-house.

The three properties contain a total of 253,524 square feet and are currently 98 percent occupied. Park 10 Place, located at 16420 Park Ten Place, is a five-story tower that contains 83,078 square feet. Broadfield is a six-story property located at 1400 Broadfield Blvd. It contains 102,865 square feet. The three-story Willowbrook office building contains 67,581 square feet and is located at 7915 FM 1960 West. LaSalle Bank in Chicago provided financing for the acquisition.

Argus recently acquired three office properties in the Deer Valley market of North Phoenix in a deal worth $51.3 million.

Betts, a senior vice president at Grubb & Ellis, joined the company in 1998. Prior to that he was employed by Dunkum Mortgage Group and Cushman & Wakefield. He is a Certified Commercial Investment Member and a graduate of Texas A&M University.

Address: Park 10 Place at 16420 Park Ten Place, Houston, Texas
- Broadfield at 1400 Broadfield Blvd., Houston, Texas
- Willowbrook at 7915 FM 1960 West, Houston, Texas

Size: 253,524 square feet

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Filed Under: Office

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