HOUSTON – (Realty News Report) – Austin-based Capital Commercial Investments Inc. has acquired The Offices at Greenhouse, a 203,284-square-foot Class A office building in Houston’s Energy Corridor, for $17.6 million.
The five-story building sits on a 4.6-acre site at 19219 Katy Freeway near Greenhouse Road and was completed in 2014.
Transwestern’s Doug Little, Kelli Gault and Jack Scharnberg have been retained to handle leasing for the property.
Capital Commercial purchased the asset from KBS Growth & Income REIT. The Newport Beach, California–based REIT acquired The Offices at Greenhouse in November 2016 for $47 million.
The property was originally developed by Stream Realty Partners in partnership with J.P. Morgan Asset Management, acting on behalf of its institutional investors, and Wile Interests of Houston. It was conceived as part of a larger 12-acre mixed-use project at the southeast corner of the Katy Freeway and Greenhouse Road.
“Many employers and employees prefer to avoid the long commute to the Galleria area,” said Doug Agarwal, founder and president of Capital Commercial. “The growing number of tenants moving into this submarket creates an exceptionally attractive opportunity.”
“There is strong demand for high-quality office space in the Energy Corridor,” said Transwestern’s Doug Little. “The walkable amenities, strong visibility and Class A finishes at The Offices at Greenhouse are already drawing companies seeking premium space in this submarket.”
The Energy Corridor, located along Interstate 10 on Houston’s west side, is a recognized hub for energy-related firms and a global business brand within the region.
Aug. 6, 2024 – Realty News Report. Copyright 2024.
Image: Transwestern
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File: Austin Firm Buys Energy Corridor Tower for $17.6 million — Transwestern Austin — Capital Commercial — Austin Firm Buys Energy Corridor Tower for $17.6 million