KBS Realty Advisors this week closed on the sale of a 176,471-square-foot office complex on the west side of Houston, Texas, for an undisclosed price.

A Greenwich, Conn.-based private capital investor purchased the property, Parkview I and II, free and clear of debt, according to a press statement. It is the company’s first purchase in the city.

Situated on 8.3 acres, Parkview I and II are located at 330 Barker Cypress and 333 Cypress Run south of Interstate Highway 10. The three and four-story office properties were fully leased at the time of sale.

According to Dan Miller, senior managing director of Holliday Fenoglio Fowler L.P., the brokerage the represented KBS, “Parkview I is a single-tenant building leased to Alliance Engineering, a subsidiary of the Wood Group, on a long-term net lease, and Parkview II is leased to seven tenants with minimal near-term rollover, which made the deal very attractive to a number of investors looking for a low-risk opportunity to acquire assets in the popular Energy Corridor submarket,” said Miller.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
New sessions have been added to Connect Now Agenda on October 20th! Check out the power-packed lineup. SEE THE AGENDA×