The three-year-old office building at 5300 W. Sam Houston Parkway was fully leased at sale time. H. Dan Miller, first vice president in Houston for CB Richard Ellis Inc., tells GlobeSt.com that the building went on the market in May, but "we didn't go through the typical marketing campaign we normally would go through to sell the building" because of the Santa Ana, CA-based buyer's interest. A source says Triple Net paid more than the $15.5-million ask.
CBRE has been involved in the full life cycle of Beltway 8 Corporate Centre, beginning with the conception, design and development stage, lease-up and now its disposition. Mariner Health Care occupies 95,000 sf and the 5,200-sf balance is held by Petrocom LLC. The office space was quoted at $21 per sf gross. CBRE's John Pruitt, senior vice president, and Dena Wren, vice president, leased the structure, which rose under the watch of Panattoni Construction.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.