Younan Properties Inc. has added three more office buildings to its rapidly expanding Houston portfolio, paying an undisclosed price for three facilities in the northern part of the city.
With the acquisition of Bridgewood I, Bridgewood II and Greenbriar Place, all located on N. Sam Houston Parkway East in the heart of the Greenspoint/North Belt submarket, the firm’s Houston assets have grown to nearly 2.2 million square feet of office space.
The North Houston portfolio contains approximately 422,000 square feet of office space. Bridgewood I at 654 N. Sam Houston Parkway East is a 135,000-square-foot, four-story office building built in 1980 with 87 percent occupancy. Also built in 1980, Bridgewood II at 652 N. Sam Houston Parkway East is four stories with 141,000 rentable square feet, and is 96 percent occupied. Greenbriar Place, a five-floor, 146,000-square-foot building, was built in 1982 and was recently renovated. It currently is 96 percent occupied.
KBS Realty Advisors sold the building.