WEBSTER, Texas – (Realty News Report) – TRC Capital Partners, a Houston-based real estate firm, has acquired the Galaxy II office building located near NASA’s Johnson Space Center.
Galaxy II, at 455 East Medical Center Blvd., is a 106,000-square-foot office property fully leased to tenants that include United Fire Group, IBI Group and APNetwork.
TRC Capital Partners and its affiliated firm TTRC Ventures are led by CEO Steve Lerner. The organization previously operated under the name The Redstone Companies, LLC.
The Galaxy II campus sits on 5.87 acres at 455 East Medical Center Blvd. in the NASA/Clear Lake submarket, roughly midway between Houston and Galveston. The building was designed by the Gensler architecture firm.
Located in southeast Harris County, the property sits just east of Interstate 45, offering convenient north–south access. It is near several major demand drivers, including The Medical Center of the South, Johnson Space Center, Kemah and the University of Houston–Clear Lake.
Completed in 2009, Galaxy II is a five-story office building with average floor plates of about 21,234 square feet. The fully leased asset is home to corporate and professional tenants, including United Fire Group, IBI Group and APNetwork.
The seller, Houston-MDL, was represented by Marty Hogan and Rick Goings of JLL Capital Markets. Financing efforts were led by James Brolan of JLL Capital Markets.
“Galaxy II has benefited from the continued flight to quality and will continue to outperform the market due to minimal Class A supply in the submarket with no new developments on the horizon,” Hogan said.
The Clear Lake area has seen increased momentum recently, driven in part by activity from space-related firms.
One example is Griffin Partners, a Houston real estate firm led by Fred Griffin, which will develop a facility at Houston Spaceport for Hamilton Sundstrand, a Collins Aerospace subsidiary. The planned 115,000-square-foot development on the south quadrant of Ellington Airport will include 50,000 square feet of corporate office space and about 10,000 square feet for a spaceflight accelerator to support collaboration among startups and businesses focused on space ventures.
June 28, 2021 — Realty News Report. Copyright 2021.
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File: Office Building Near NASA Acquired
Photo Credit: Mabry Campbell