Hertz Purchases 800,000-SF Brookhollow Office Park on North Loop
Brookhollow Central
HOUSTON — Realty News Report: Hertz Investment Group has purchased Brookhollow Central I, II and III, a Class A office complex of three buildings totaling 806,541 square feet in Houston’s North Loop submarket.
The HFF team led by Dan Miller and Marty Hogan represented seller Parmenter Realty Partners, based in Miami, and facilitated the sale to California-based Hertz Investment Group.
Brookhollow Central I, II and III are situated at 2800, 2900 and 2950 North Loop West, adjacent to the reconfigured interchange of Interstate 610 and U.S. Highway 290.
The transaction closed for $70.5 million, which works out to roughly $87 per square foot.
In a separate Houston transaction, Hertz recently acquired Westchase Park Plaza, a 232,100-square-foot office property at 11490 Westheimer, for $24 million. Hertz has since renamed that building Royal Oaks Centre. That purchase marked Hertz’s first acquisition in Texas.
Previously, Hertz had entered into a contract to buy the 41-story Marathon Oil Tower on San Felipe Road near Uptown Houston, although that deal ultimately did not close.
Hertz Investment Group now manages an office portfolio totaling about 20 million square feet across more than 20 U.S. cities.
