Northwest Houston Office/Industrial Complex Added To Welcome Group Portfolio

Real Estate Owner and Developer Acquires Tally Energy Property

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Jan 18, 2021, 10:09 ET

HOUSTON, Jan. 18, 2021 /PRNewswire/ -- Welcome Group, LLC has acquired the Tally energy property in West Houston, Texas. The property consists of four office and industrial buildings. It is the latest addition to the commercial real estate owner and developer's growing list of holdings.

The newly acquired property was approximately 129,085 square feet of leasable area on a 7.08-acre site. It is located at the southwest intersection of the West Sam Houston Parkway and Tanner Road. All four buildings on the premises were constructed in 2013 and are currently 100% leased by three tenants.

Of Building 4's 22,570 square feet of office space, the 15,000 square feet presently leased to New Medical Horizon is presently unoccupied. This space will be available for lease in early 2021.

Ryan Wasaff, Senior VP of Welcome Reality Advisors, and John Wilson, Welcome Realty Advisors Consultant, represented Welcome Group in the transaction.

"The acquisition of the Tally Portfolio complex adds a premier property in the Northwest Houston submarket to our burgeoning portfolio," said Welcome Wilson, Jr., President and CEO of Welcome Group. "We are thrilled to be closing out the year with this acquisition, which puts us closer to achieving our goal of owning 6 million square feet of commercial real estate space by the end of 2021."

About Welcome Group:

Welcome Group owns more than 115 single-tenant industrial properties in Texas, comprising more than 5 million square feet. Welcome Group develops and acquires single-tenant commercial, distribution, lab, and manufacturing properties, as well as entire real estate portfolios.

The Company offers build-to-suit and design-build services for interested firms. Welcome Group is actively seeking direct purchase and sale-leaseback opportunities throughout Texas and the southeastern United States.

For more information visit welcomegroup.com.

SOURCE Welcome Group