HOUSTON—There is an increasing opportunity in Houston's office sector as a result of the distress in the energy sector. Although the energy sector has recovered significantly, valuations have dropped materially, according to Buchanan Street Partners.
“Houston has experienced difficult times due to the energy sector's instability. However, we are optimistic about the market long term,” says Matt Haugen, vice president at Buchanan Street Partners. “Houston is one of the top 10 population centers in the nation and we believe in its long‑term economy.”
Amid that increasing opportunity and optimism, Buchanan Street Partners has acquired Sam Houston Crossing II, a 160,000-square-foot office building located at 10344 Sam Houston Park Dr. The seller was Duke Realty and the price was undisclosed.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
