$278.00 PSF for medical property; Sugarland, TX.

Triple Net Healthcare/Office REIT Inc. acquired the properties at 205 Hollow Tree Lane in Houston, TX, also known as Triumph Hospital Northwest, and 1550 First Colony Blvd. in Sugar Land, called Triumph Healthcare Southwest. The asking prices for the properties totaled $37.5 million. Reportedly, there were two sale transactions: 205 Hollow Tree was sold for $17.75 million, or $201 per square foot, and 1550 First Colony Blvd. was sold for $18.75 million or $278 per square foot. Triumph Hospital Northwest in Houston was built in 1986. It consists of 88,213 square feet on a 12-acre land parcel close to Interstate 45 and FM 1960. The property at the 1550 First Colony in Sugar Land has 67,500 square feet and was built in 1989 on an 8-acre land parcel. Triumph Healthcare currently occupies these two buildings with another five years left on its lease and two more five year-options. Reportedly, Henry Hagendorf, CCIM and Brian Hines of Sperry Van Ness represented the sellers, Hollow Tree LLP and First Colony Investments LLP. The buyer represented itself. For more information see: www.houstonrealtyadvisors.net or www.houstonrealtyadvisor.com