A partnership led by the principals of Houston-based real estate company InSite Realty Partners has purchased two office buildings in Stafford, Texas, from National Life Capital Management.
The purchase price was undisclosed. InSite is planning an extensive renovation to the properties, located at 10701 and 10707 Corporate Drive in Stafford.
Located in the Sugar Land/Fort Bend office market, the Atrium Building at 10701 Corporate Drive is a 108,490-square-foot, three-story office building. The Churchill Building at 10707 Corporate Drive is a 74,655-square-foot, two-story office building. The properties are 54 percent leased. Both are Class B properties.
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Logan Brown of Grubb & Ellis, Houston, represented InSite Realty Partners in negotiations. Moody Rambin has leased and managed the buildings since 2004 and has been retained by InSite to continue those services.
Steve Bryant and Kristine Lilly of Moody Rambin will handle leasing and Tonna Maloy will be the on-site property manager.