Interra Buys Houston Office Complex, Market briefs

In Houston, Interra Capital Group has purchased Remington Square, a 392,357-SF office complex in northwest Houston, JLL Capital Markets reported.

JLL represented the seller, BGO, and procured the buyer.

Houston has seen an uptick in the number of office building sales in 2024. But this sales prices this year have been much lower compared to transactions in recent years.

The sales price for the three-building Remington Square office project was not disclosed.

Remington Square is located along Beltway 8 at 10603, 10613 and 10713 W. Sam Houston Pkwy in northwest Houston, between U.S. Highway 249 and 290.

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Directors Kevin McConn and Marty Hogan and Senior Director Rick Goings.

“The sale of Remington Square represents the flight-to-quality trend we are seeing in Houston as well as across the U.S. office market,” said McConn. “Class A office continues to recover, and we are seeing strong demand across a variety of investors for product like Remington Square.”

Completed in 2008 and 2015, Remington Square has a restaurant with catering, a fitness center with locker rooms, tenant lounge and conference facility. The 16.8-acre site also allows for the future development of a fourth building.

Interra Capital Group, a Houston firm founded by Jack Polatsek, purchased the 32-story Esperson building in downtown Houston earlier this year.