SANTA ANA, Calif., Dec. 28 /PRNewswire/ -- Chief Investment Officer Jeff
Hanson announced today that Triple Net Properties, LLC has sold Brookhollow
Park on behalf of tenant-in-common investors. The disposition closed on
December 20, 2007.
Brookhollow Park is a four-story, approximately 102,000-square-foot office
building in San Antonio, Texas. Built in 2001, the architecturally distinctive
property is conveniently located within close proximity to numerous
restaurants, hotels, and health club facilities. Brookhollow Park is located
at the northeast corner of Highway 281 North and Central Parkway North. The
property is currently 94 percent leased to numerous tenants, including Carter
& Burgess, IBM, Office Depot, Linebarger, and Goggin, Blair & Sampson.
Brookhollow Park, originally purchased in July 2002, was sold to BHP
Funding Corporation. Ryan Gallagher of Grubb & Ellis Company was the broker in
the transaction.
Triple Net Properties, LLC is a wholly owned indirect subsidiary of Grubb
& Ellis Company, a leading real estate services and investment management
firm. Triple Net Properties and affiliates manage a growing portfolio of
nearly 39 million square feet of real estate, including more than 10,000
apartment units, with a combined market value in excess of $5.4 billion.
Triple Net Properties and affiliates are currently buying and selling
properties throughout the United States, offering a full range of commercial
real estate investments, including tenant-in-common (TIC) programs for
investors structuring tax-deferred (like-kind) exchanges under Section 1031 of
the Internal Revenue Code, real estate investment trusts (REITs) and
institutional investments.
SOURCE Triple Net Properties, LLC
Jill Swartz of Triple Net Properties, LLC, +1-714-667-8252, ext. 25,
jswartz@1031nnn.com
