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Easton Hands Crescent $30M for Class A Building

HOUSTON-The Miami buyer gets its first deed in town with the purchase of the 399,777-sf 1800 West Loop South, a 67%-leased office building that will now be leased and managed by a Cushman & Wakefield team.

By Jennifer Brenner Andrade | Updated on March 30, 2004

HOUSTON-The Easton Group of Miami, with eyes for Houston, has made its first buy: a 399,777-sf office building at 1800 West Loop South in the Galleria submarket. Industry sources tell GlobeSt.com the building traded for $75 per sf or about $30 million.

Richard A. Nash, president of Easton Group, labels the acquisition as a “tremendous entree into the Galleria marketplace.” Though the plan’s being fine-tuned, Nash says there will be just enough upgrades to the 22-year-old building to let tenants and townsfolk know that a new owner’s in charge. Moderate changes are being planned for the lobby, common areas and landscaping.

Nash won’t say if he’s holding more Houston contracts, but did say “we plan on acquiring an asset base in that market.” Until now, the firm’s Texas portfolio primarily consists of class A bulk distribution product in Dallas/Fort Worth.

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