JV Purchases Former Hewlett-Packard Campus

Group To Redevelop Campus to 630,000 SF of Office Space, 4 Parking Garages

The joint venture between Macfarlan Capital Partners and Buchanan Street Partners purchased four buildings on 44.5 acres at 20455 State Highway 249. The partnership purchased the buildings from Don Hand for a reported $32 million, or about $129 per square foot. Three of the buildings are office buildings totaling 232,000 square feet and the other is an industrial building totaling 249,000 square feet. The campus will be renovated for office use and will be called Centre at Cypress Creek. It will include three four-story office buildings and the industrial building will be converted to office space. The project will include more than 630,000 square feet and four parking garages. Brenda Pennington of Brenda Pennington Commercial Real Estate represented the seller, Don Hand of Greenwood Properties. For more infomation see ; www.houstonrealtyadvisors.net or www.houstonrealtyadvisor.com