FRIENDSWOOD, TX. January 24, 2020 - The Mishra Group completed the acquisition of Bay Area Business Park, a 53,290 square foot industrial park located in the Webster MSA on January 22, 2020 to replace a warehouse asset in North Houston that it disposed of in mid-2019. The Mishra Group purchased the asset from Houston-based Andover Group, Inc., a real estate investment group with assets in multiple states. Andover was the original builder of the Bay Area Business Park.
"I'm confident that Bay Area Business Park will be a good investment for us. It was an excellent opportunity to enlarge our footprint in the Webster trade area. Bay Area Business Park is located minutes away from several other assets we own and manage in the area. As local and hands-on investors, we eat up properties in our backyard," said Shiv Mishra, Vice President of The Mishra Group, who managed the acquisition of the asset. "As we do with almost all newly acquired assets, we intend on sprucing the property up quite a bit, and will invest a considerable sum into improvements over the course of the next year," Mishra added. The Mishra Group will manage and lease the property in-house through it's affiliate company, NOI Management.
About The Mishra Group
The Mishra Group owns, manages and leases commercial real estate throughout Houston and surrounding cities, having acquired over one million square feet of retail, office and warehouse space. In addition to its commercial real estate interests, it builds custom homes, completes residential remodels and commercial lease space build-outs. Since inception, the company has completed over $125 million in real estate transactions and is based out of Friendswood, Texas. The Mishra Group is led by Managing Principal Vijay Mishra, an experienced investor and developer with over 22 years of experience in the industry. For more information, you are encouraged to visit the company website at themishragroup.com.