Griffin Juban Interests of Houston intends to put nearly $1 million into renovating the 43,045-sf building at 2424 Wilcrest Dr. and its 108,825-sf neighbor at 2500 Wilcrest Dr. The buildings are situated on about eight acres.

Dallas-based Avex Group had the office buildings on the market for $10 million and was in talks with Griffin Juban when Credit Suisse First Boston foreclosed, Logan Brown of Grubb & Ellis Co.'s Houston office tells GlobeSt.com. He and partner Doug Nicholson were given the go-ahead to renew marketing efforts after the air cleared between Credit Suisse and Avex. Again, Griffin Juban was selected, but the sale took nine months to complete due to the complications, Brown says. Rita Healy, an independent broker assisted with sale.

About $650,000 of the $1-million renovation tab will be applied toward building another parking garage. Brown says the 22-year-old, class B buildings were sold as a value-add opportunity. They were 80% leased at sale time. Since the closing, the smaller building's anchor tenant has vacated about half of the office space.