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Class A Medical Office Building Attracts First-Time Buyers

MISSOURI CITY, TX-A 51,500-sf, fully leased medical office building sells for more than $2.4 million to a group of buyers from Houston making their first commercial real estate investment after selling an oil and gas company.

By Jennifer D. Duell | Updated on January 10, 2005

MISSOURI CITY, TX-A group of investors from Houston has acquired the Rotunda Medical Building for more than its appraised value of $2.4 million.

Rotunda Ltd. purchased the 51,500-sf, class A medical building from Rotunda Venture Ltd., an investment group from Houston that focuses primarily on retail assets. “The Rotunda was their only non-retail asset and they thought it would be a good time to sell off a non-core asset,” says Larry Marks, a senior vice president with Houston-based Betz Commercial Brokerage Inc.

Marks tells GlobeSt.com that the three-story building at 5819 Highway 6 South is the buyers’ first commercial real estate investment. “They recently sold an oil and gas company and were looking to get into real estate,” he explains. The buyer paid cash for the fully leased asset.

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