HOUSTON — Dallas-based TIER REIT Inc. has entered into a definitive agreement to sell the Loop Central office complex, a three-building office campus situated just inside Loop 610 in Houston.
Located on the east side of Loop 610, just south of Westpark and adjacent to the city of Bellaire, the Loop Central campus totals approximately 575,000 square feet of office space.
The property, which TIER REIT acquired in 2007, is currently about 84 percent leased. Company officials did not disclose the buyer’s identity; the transaction is expected to close in the first quarter of 2018.
Construction on the campus took place in the early 1980s: Loop Central One was completed in 1980, Loop Central Two followed in 1981, and Loop Central Three was finished in 1982.
With its central location inside Loop 610 and proximity to Bellaire and the Westpark corridor, the Loop Central complex offers tenants convenient access to Houston’s employment centers and transportation routes, making it an attractive asset in the region’s office market.
