HOUSTON–Armando Montelongo Companies, Inc., has purchased Northchase Place, a 75,000 square foot class B office building located at 13700 Veterans Memorial in Houston. The new asset increases the company's commercial real estate portfolio to 160,000 total square feet.

Montelongo Companies identified Northchase Place as a value-add property within the commercial real estate sector, purchasing the asset for $26 per square foot. Armando Montelongo, CEO/founder of Armando Montelongo Companies, is one of America's most successful residential investors, buying and renovating residential properties as profitable investments. He has recently expanded his focus to identify commercial properties that are strategically positioned for generational wealth creation. 

“Commercial real estate is greatly undervalued in Houston which currently allows for some of the best buys per square foot in the country,” said Montelongo. “Not only did we purchase the property at a great value, we also believe that the Northchase is a high quality asset with a diverse tenant mix that will continue to attract quality companies for the long-term.”

Located within the Northchase office park development in the heart of the Cypress Creek Cultural District, Northchase Place is just five minutes away from the prestigious Champion Forest Community and 15 minutes from Intercontinental Airport. The four-story office building sits on 2.09 acres of land and boasts a sky lit atrium, glass-backed vision elevators, a security system with card key access, native and sustainable landscaping, and a 3:1 parking ratio.

“Flipping houses has afforded me the opportunity to create the wealth necessary to reinvest in multi-million dollar commercial properties,” explained Montelongo. “By investing in and holding assets similar to Northchase Place, as a company we are able to generate long-term profits and generational wealth.”

Armando Montelongo Companies, Inc. was listed as one of the 2011 Inc. 500 fastest-growing companies in America.