10-15-2013 02:52 PM

Dornin continues buying spree in Houston


Dornin Investment Group bought two buildings in the Energy Corridor from Peloton Capital Partners. Above, 1250 Wood Branch.




Just a month shy of buying a building in Houston's Energy Corridor, Laguna Beach firm Dornin Investment Group has closed on the sale of two more office buildings located in the area.
Dornin Investment Group bought 1250 Wood Branch and 11931 Wickchester, two office buildings totaling 165,146 square feet in Houston’s Energy Corridor, from Dallas-based Peloton Capital Partners. Financial details were not disclosed.
HFF L.P. represented Peloton in the transaction.
1250 Wood Branch totals 102,880 square feet and is 88.9 percent leased, while 11931 Wickchester has 62,002 square feet and is 76.6 percent occupied. The properties are located just north of Interstate 10 and west of Kirkwood in the Energy Corridor area, close to Shell’s North American headquarters.
Representing Peloton were Martin Hogan, director at HFF, and Dan Miller, senior managing director at HFF.
“Houston’s Energy Corridor has historically been one of the strongest and most stable office submarkets in the nation due to its base of energy companies as well as firms that provide services to the energy industry,” Hogan said in a statement. “There is a lot of leasing activity in the Energy Corridor and the buyer was excited about the opportunity to acquire vacancy in this strong submarket.”
Dornin Investment Group has been active in the Energy Corridor market. In September, the real estate investment and asset management firm bought 15915 Katy Freeway, a 105,619-square-foot office property, for an undisclosed amount. At that time, Dornin said it expected to buy more Houston office buildings by the end of the year.
Giselle Greenwood oversees the day-to-day operations of the Houston Business Journal newsroom and website. Follow her on Twitter for more.


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