HOUSTON--After an extensive renovation and rebranding, Stream Realty Partners and DRA Advisors have sold The Bellevue, a 120,000-square-foot office building in the River Oaks community of Houston, to Principal Financial Group.
Purchased in 2011 and featuring unobstructed views of downtown, the Medical Center and River Oaks, the original complex “suffered in the marketplace due to deferred maintenance and an overall outdated space,” say company reps. Upon taking over leasing and management of the building, Stream Realty initiated a renovation and rebranding campaign, redesigning and upgrading the lobby, restrooms, common corridors and exterior landscaping.
“With the increasing demand for class A office space inside the loop, we saw an amazing opportunity to provide our tenants with a premier location and high-end amenities that has become a hallmark of Stream Realty,” says Adam Jackson, division partner at Stream Realty. “With increasing demand due to an unprecedented influx of new companies to the Houston area, we've been able to reposition the property into a highly sought after class A space.”
Reps with Stream were unable to offer more details about the transaction as of press time.
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