263 N. Sam Houston Parkway E. is roughly 14 miles from downtown Houston. Picture courtesy of Colliers
Geosam Capital has offered 263 N. Sam Houston Parkway E., an workplace constructing in Houston spanning 87,282 sq. ft, to a non-public purchaser. Colliers brokered the deal for the vendor.
The asset beforehand traded in 2019 and in 2020 grew to become topic to a $5 million mortgage from HSBC Financial institution Canada, as half of a bigger $29 million portfolio financing, based on CommercialEdge information.
Accomplished in 1978 and renovated in 2015, the constructing rises three tales and options 29,204-square-foot floorplates. The leasing dealer for the property is Lee & Associates, the identical supply exhibits.
Situated close to the intersection of Freeway 8 and Interstate 45, in an Alternative Zone, the 4.4-acre property is roughly 14 miles north of downtown Houston. Additionally it is some 8 miles from the George Bush Worldwide Airport. Greenspoint Mall is inside strolling distance of the constructing.
Colliers Principal & Director David Carter represented the vendor within the transaction. Carter lately labored with Geosam within the sale of one other workplace constructing spanning 147,135 sq. ft, adjoining to 263 N. Sam Houston Parkway E.
As of September, Houston recorded the very best emptiness fee within the U.S. at 24.9 %, representing a 30-basis-point enhance year-over-year and properly above the 17.8 % nationwide common, based on a current CommercialEdge report. The itemizing fee within the metro clocked in at $30.66, rising 2.7 % for the reason that identical month of final 12 months.
