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InSite Commercial Buys Intellicenter in Houston

German Investment Manager Sells 160,000-SF Office Building Leased to The Travelers Indemnity Co. and Cameron Village
August 8, 2017
InSite Commercial Real Estate boosted its local holdings with the acquisition of the Intellicenter at 4650 Westway Park Blvd. in Houston, TX from Germany-based investment manager, LIC Asset Management GMBH.

The 160,407-square-foot, three-story office building delivered in 2007 on 12.8 acres in Westway Park, a three million-square-foot office campus located along Beltway 8 in Houston's West Belt submarket.

The building is fully occupied by auto insurance company Travelers Indemnity Co. and Cameron Village, whose lease for 25% of the property is set to expire in October.

Trent Agnew, Dan Miller and Dane Peterson of HFF's investment sales team represented LIC Asset Management GMBH in negotiations.

“Value-add office opportunities like Intellicenter are generating a lot of interest from both long-time Houston investors as well as new sources of capital, and as a result the deal generated 12 offers,” said Agnew.

Please see CoStar Comp #3973614 for more information on the transaction.
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