Real Estate Owner and Developer Acquires Tally Portfolio

HOUSTON, Texas — December 16, 2020 — Welcome Group, LLC has acquired the Tally Portfolio in West Houston, Texas, which adds a complex consisting of four office and industrial buildings to the commercial real estate owner and developer’s growing list of holdings.

The newly acquired property totals approximately 129,085 square feet on 7.08 acres and is located at the southwest intersection of 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.

• Building 1 is a two-story office building leased by Tally Energy Services, LLC, an oilfield service company specializing in North American shale development. The structure has 26,229 square feet of office space and 2,500 square feet of warehouse space, totaling 28,729 square feet.

• Building 2 totals 30,382 square feet and is primarily comprised of warehouse space and a machine shop. The property, also leased by Tally Energy Services, has 4,000 square feet of office space. There is an additional 4,000 square feet of mezzanine space that is not yet included in the building’s square footage and can be built out as office space.

• Building 3 totals 30,382 square feet with 6,000 square feet of office space and is leased by Tally Energy Services. Like Building 2, this property has a 6,000 square foot mezzanine space over the existing office that can be built out as additional office space.

• Building 4 totals approximately 39,592 square feet and is intended for medical and office use. The building is leased by Tally Energy Services, New Medical Horizons, and Renal Treatment Centers, a subsidiary of DaVita, Inc., a Fortune 500 health care provider and the largest provider of kidney care services in the United States.

Of Building 4’s 22,570 square feet of office space, 15,000 square feet are presently leased but unoccupied by a third tenant in the medical industry. This space will be available on the market for lease in 2021.

“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.