HOUSTON – (Realty News Report) – Midway has sold a majority interest in CityCentre Five, a 201,000-square-foot office building in West Houston.
JLL brokers Kevin McConn, Rudy Hubbard, Rick Goings, and Michael Zietsman represented the owner, Midway Companies. Lionstone Investments purchased the majority interest on behalf of a client for an undisclosed price. Midway will continue to manage the property.
Colvill Office Properties, which handles leasing for the CityCentre office campus, reports that CityCentre Five currently has 9,554 square feet of available space. Amazon Web Services is a major tenant in the building, and Life Time Work operates a co-working facility there.
CityCentre Five sits within a 50-acre mixed-use development near the southwest corner of the Katy Freeway (I-10) and Beltway 8. The building was completed in late 2015.
“This is a world-class property in a prime location that offers tenants a unique mixed-use atmosphere with an abundance of amenities,” said Kevin McConn. “Like the other CityCentre buildings, CityCentre Five is achieving the highest rents in the city outside of the Central Business District because of these advantages.”
In the summer of 2018, Midway refinanced CityCentre Five with a $48.5 million loan from New York Life Real Estate Investors. The refinancing was arranged by HFF, which has since been acquired by JLL.
Oct. 2, 2019 Realty News Report Copyright 2019
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