NW Houston: Four Building Office Campus Sold

In Houston, Woodside has purchased a four-building office campus in Northwest Houston and plans improvements aimed at getting it leased up.

The Fort Worth-based investment manager, which specializes in acquiring and improving lender-owned properties, closed on the purchase of Heron Lakes, a four-building, 200,155-SF office campus along Beltway 8 near Gessner. The buildings are located at 7904, 7906 and 7908 North Houston Parkway West and 10740 North Gessner Drive.

The campus, purchased in March, has been rebranded has Saddlebrook Place, as stated by Stream Realty Partners. Stream will lead the leasing efforts for the portfolio.

The deal follows several other Houston office buildings that have changed hands recently, including Noble Energy Center Two, purchased by First Community Credit Union, and 1800 Bering, purchased by DML Capital.

Capital improvements aimed at improving the tenant experience at Saddlebrook Place include refreshed common areas and the addition of move-in ready spec suites.

“Saddlebrook Place aligns with our strategy of acquiring well-located assets where we can create value through thoughtful enhancements and hands-on ownership,” Hunter Norris, Director of Woodside, said when the deal was released. “This campus offers strong fundamentals, and we’re excited to implement a series of upgrades that will elevate the overall experience and reposition the property as a competitive office offering in Northwest Houston.”

Woodside and Stream have worked together on other Houston projects, boosting occupancy at Wickchester Center in the Energy Corridor to 96%. Woodside’s other local investments include Kingwood Place in Northeast Houston.

Stream Managing Director Matt Asvestas and Senior Associate Parker Noble will oversee leasing.

“With new ownership committed to strategic improvements and a focus on delivering move-in-ready space, we expect strong interest from tenants seeking high-quality office product with immediate connectivity to Beltway 8 and the broader Houston region,” Noble said.