Preston Young, co-managing partner in Stream's Houston office, says some renovations are expected on the industrial side of the assignment, but none for the office addition. Colony Crossing, owned by McShane Corp., was developed in 2004 and is 40% leased while the 800,000-sf portfolio, owned by DCT Industrial Trust Inc. in Denver, is five years old and hovers 90% leased.

The class B office space, made up of the 24-year-old Timberway One at 15990 N. Barkers Landing Rd. on the west side and six-year-old Reserve at Greens Crossing II at 11410 Greens Crossing Blvd. in the Greenspoint submarket are owned by London-based Strategic Real Estate Advisors. The buildings are 83% leased.

Young tells GlobeSt.com that the main strategy on most of the portfolio is an ability to offer large blocks of contiguous space, which is at a premium in many Houston submarkets. On the office side, especially, there is an opportunity to hike rents as leases roll. "I'd say both properties are positioned to where there will be some significant rent appreciation over the next several years," he adds.