HOUSTON—Despite recording negative net absorption of approximately 90,000 square feet, leasing activity in the northwest office submarket totaled 723,000 square feet in 2017. This represents the submarket's highest leasing activity since 2014, according to JLL research. This and other factors are leading to significant interest in Houston from a broad range of investors, many of whom are seeking attractive fundamentals and solid value-add opportunities in well-located submarkets.
A recent example is When Opportunity Knocks LLC's purchase of the eight-story 141,480-square-foot office building, One Northwind Plaza at 7600 W. Tidwell Rd., from Aegon Asset Management. The price was undisclosed.
Clint Holland of SkyWalker Property Partners represented the buyer. Rudy Hubbard, Kevin McConn and Rick Goings of JLL represented the seller.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
