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Boxer's Buying Spree Snags Two Houston Office Buildings

HOUSTON-In this year's planned buying spree, Boxer Properties has added two office buildings, totaling 103,000 sf, to its Houston portfolio. Each structure will be divvied into about 45 offices and offered for short-term leasing.

By Jennifer Brenner Andrade | Updated on May 08, 2001

HOUSTON-Boxer Properties has purchased two office buildings in Houston. Company president Andrew Segal tells GlobeSt.com the acquisitions are part of this year’s plan to purchase about one million sf in office space throughout the US. Added to the portfolio are the 50,000-sf Forum Office Building at 10039 Bissonnet and the 53,000-sf office building at 16903 Red Oak South.

The Forum Office Building is a 22-year-old, three-story structure in the southwest submarket. Martin O’Malley and Kristen Porter, both of the Grubb & Ellis Co., represented Segal in the deal.

Segal says the building has a 26% occupancy rate, which is a perfect fit for the profile he is seeking to acquire. Boxer Properties specializes in taking vacant or nearly vacant buildings, building out speculative units and producing short-term leases for tenants. Boxer tenants often can move in the day leases are signed.

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