THE DISPOSITION OF
KINGS ROW BUSINESS PARK
(December 22, 2023) FRIENDSWOOD, TEXAS — The Mishra Group (“Firm”) recently divested its ownership of Kings Row Business Park (“Property”) via an off-market transaction. A private capital group emphasizing the trade area acquired the Property, an 11,586 SF business park with eight private units representing a variety of trades, intended for aerospace contractors and NASA affiliates.
The Firm acquired the Property in 2014, among the first properties it acquired following its transition to commercial properties in 2011. The Property maintained average occupancy rates of approximately 94% throughout the Firm’s management, solidifying itself as an attractive, intentional asset facing various market conditions over the last decade.
“Our investment profile has evolved over the last ten years, and while Kings Row now aligns less with our current criteria, we still believe it is an excellent property,” said Shiv Mishra, who leads the Firm’s commercial real estate investment platform. “Historical occupancies have largely outperformed the office market, and also the broader commercial market in the NASA and Clear Lake trade areas, and is ideally positioned nearby Johnson Space Center, ripe for businesses to establish main or satellite office footprints.”
The Mishra Group, formed in 1997, is a commercial real estate investment firm which targets core-plus and value-add retail shopping centers positioned in dominant markets with strong one-mile demographics and are foundational to neighborhoods and communities.
Our decades of experience in ground-up construction across residential and commercial projects allows improve our properties and tenant spaces in a cost-effective and value-added manner. Putting ourselves in the shoes of our shopping center patrons, we seek to provide clean, safe, maintained property conditions which attract high-quality tenants.
We’ve executed over $150 million in commercial real estate transactions representing more than one million square feet of leasable area.
Shiv K. Mishra
M: (832) 814-6793