HOUSTON – Tristar Alliance Properties, based in Houston, has acquired the Sterling Plaza office building in Southwest Houston and intends to undertake substantial renovations, according to Lee & Associates – Houston.
The property is a 102,292-square-foot, Class B office building situated at 10101 Southwest Freeway, near Beltway 8.
Robert LaCoure and Ryan Young of Lee & Associates – Houston represented Tristar Alliance Properties in the transaction.
“Our client had specific requirements for what they needed,” said Robert LaCoure, principal at Lee & Associates – Houston. “We searched the market thoroughly; when no suitable listings matched those needs, we pursued off-market opportunities and located a strong asset with clear value-add potential.”
Built in 1982 and last renovated in 2001, Sterling Plaza is a six-story building at the intersection of Beltway 8 and the Southwest Freeway. The property includes a covered parking garage, providing parking at a ratio of four spaces per 1,000 rentable square feet.
Tristar Alliance Properties has announced plans for immediate, major upgrades to the lobby, roof and HVAC systems, though specific renovation details have not been released. Lee & Associates – Houston will handle leasing and property management. Currently, the building has 10,407 square feet of office space available for lease.
The seller, Mykawa Hso Limited Partnership, was represented by Patrick O’Connell of O’Connell Realty.
Jan. 24, 2020 Realty News Report. Copyright 2020.