HOUSTON – (Realty News Report) – Braun Enterprises has acquired a two-story office building at 7155 Old Katy Road in Houston’s Inner Loop and plans a targeted redevelopment to serve small and growing businesses.
The 90,423-square-foot property sits on a 4.17-acre site in the North Loop West office submarket, located just south of Uptown and southwest of downtown Houston. With the submarket currently about 82.4 percent occupied, the building’s central location and size make it well positioned to capture demand from small- to mid-sized tenants seeking flexible, amenity-rich office space.
Taylor Wright and David L. Carter of Colliers International represented the seller, Houston Eye Associates, in the transaction. “We received significant interest from multiple parties during the marketing process,” said Colliers Vice President Taylor Wright. “The location and quality of the asset were key drivers in the successful disposition of 7155 Old Katy Road despite the uncertainty caused by COVID-19.”
The Old Katy Road corridor, just north of Interstate 10, has historically been an underdeveloped district comprised primarily of office-service centers and designer showrooms. Recent infill activity has begun reshaping the area; for example, Hines developed the Somerset Green residential community nearby, signaling growing mixed-use momentum along the corridor.
Braun Enterprises will introduce its “Urban Office” concept as part of the redevelopment. The Urban Office model emphasizes flexible, smaller office suites complemented by shared conference facilities, coffee bars and other tenant-focused amenities. “We will rebrand and redevelop this unique, boutique building to cater specifically to small tenants,” said James Fitch of Braun Enterprises. Braun plans substantial interior and exterior renovations and will build out a significant amount of Urban Office space to attract entrepreneurs, professional services and growing local companies.
Founded and headquartered in Houston, Braun Enterprises has a long track record of acquiring and repositioning commercial properties. Over the years the company has purchased and redeveloped roughly 3.5 million square feet of office, retail and industrial real estate, and continues to operate, lease and manage those assets with a focus on local market needs.
April 18, 2021 Realty News Report. Copyright 2021.
File: Braun Buys Office Building in Houston’s Inner Loop
Photo Courtesy Colliers
For additional perspective on Texas real estate trends, see Houston 2020: America’s Boom Town – An Extreme Close Up by Ralph Bivins.
File: (2) Colliers. Braun Buys Office Building in Houston’s Inner Loop, Old Katy Road.