Hertz Renames Houston Office Building — His First Texas Purchase
Judah Hertz
HOUSTON – Hertz Investment Group, based in California, has engaged Moody Rambin to oversee leasing for its first Houston acquisition: a 10-story office building in the Westchase submarket.
Hertz recently acquired the 232,100-square-foot office property Westchase Park Plaza, located at 11490 Westheimer Road in Houston, and has rebranded the asset as Royal Oaks Centre. Leasing responsibilities have been assigned to Kurt Kistler and Terri Torregrossa of Moody Rambin.
The seller was an entity affiliated with Parmenter Realty Partners of Miami. The purchase price was $24 million, marking Hertz’s first transaction in Texas. Hertz Investment Group, founded in 1977 by Judah Hertz and headquartered in Woodland Hills, California, oversees an office portfolio totaling roughly 20 million square feet across more than 20 cities. The Royal Oaks Centre recently completed about $6 million in renovations and includes a 722-space parking garage.
In a related matter, Hertz previously entered into an agreement to purchase the 41-story Marathon Oil Tower on San Felipe Road near Uptown Houston, but that transaction did not close. Last month, a partnership led by M-M Properties acquired Marathon Oil Tower for $175 million and has announced plans for an approximately $25 million renovation.
