HOUSTON – (Realty News Report) – Vista Companies has purchased a mixed-use center in the NASA/Johnson Space Center area on Houston’s southeast side.
The 30,061-square-foot property, situated at the intersection of Clear Lake City Boulevard and El Camino Real, contains both retail and office spaces.
Currently about 95 percent leased, the center’s tenants include NVA Bay Glen Animal Hospital, Sukkar Aesthetic Surgery, JSC Federal Credit Union and several other local businesses.
The Clear Lake market has strengthened as commercial interest in space-related activity grows, driven by increasing private-sector participation from companies such as SpaceX.
“With renewed enthusiasm for U.S. human spaceflight aboard domestically built spacecraft and a favorable outlook for increased space-related business, the NASA-area markets in southeast Harris County have gained considerable momentum,” said Dan Seal, Executive Director of Economic Development for the Bay Area Houston Economic Partnership. “We anticipate a strong 2021.”
James Bell of Marcus & Millichap represented the seller, Visionary Investors, Ltd. The transaction was closed through Lesley Mann of Charter Title Company, and acquisition financing was arranged by Jasmine Sadeghpour of Frost Bank.
The buyers were real estate investment partnerships sponsored by The Vista Companies: Reserve at Grand Parkway, Ltd. and Vista Clear Lake Ltd.
Founded in 1985 by Woody Mann Jr., The Vista Companies is a Houston-based real estate services firm specializing in development, acquisitions, brokerage, leasing and property management.
Vista is also known for its flagship west Houston project, LaCenterra at Cinco Ranch, a 34-acre mixed-use development totaling approximately 360,000 square feet located off the Grand Parkway, three miles south of Interstate 10. LaCenterra played a key role in establishing the Grand Parkway as a commercial corridor in west Houston.
Woody Mann Jr. has been an active leader in the Katy Area Economic Development Council for many years.
Aug. 14, 2020 Realty News Report. Copyright 2020.
File: Vista Acquires Center near NASA. File (2) Vista Acquires Center near NASA as Human Space Travel Evolves
