HOUSTON-Black Forest Ventures LLC has acquired 17000 Katy Fwy., a three-story, 174,521-square-foot office building in the Energy Corridor, in an all-cash transaction.
The sale price was not disclosed, but similar assets trade for $150 to $200 per square foot. Using those metrics, the class A property sold for $26.2 million to $34.9 million. The local investor bought the class A property from a joint venture comprised of CORE Real Estate and Prudential Real Estate Investors.
Completed in 2007, 17000 Katy Fwy. is fully leased to Mustang Engineering. The property is situated on nearly 10 acres within the Park Ten Office Park on the north side of Interstate 10.
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