Office Properties with 11 Percent Occupancy: Fuller Acquires Energy Corridor

JLL Capital Markets handled the sale of Parkview I and II in the Energy Corridor in west Houston.

In Houston, Fuller Parkview LLC, an affiliate of Fuller Realty Partners purchased a pair of Class B office buildings in the Energy Corridor. The two-building portfolio, which is 11 percent leased, is located south of Interstate 10.

The seller, LNR Partners, was represented by JLL’s Rick Goings, Rudy Hubbard and Kevin McConn,

The buildings, called Parkview I and II, were constructed in the 1980s. It includes a 110,000-SF building at 330 Barker Cypress Road and a 65,000-SF building at 333 Cypress Run.

“This property offered investors the opportunity to acquire a uniquely positioned portfolio with well-above market structured parking in a submarket that is showing clear signs of a recovery,” Goings said. “The Energy Corridor has led Houston in leasing activity over the last two quarters, with very large long-term commitments from energy and engineering firms. This portfolio is well-positioned to capitalize on the market’s upswing.”

June 17, 2019 Ev Konut Proje Cpyright 2019