**SLS Properties Acquires Galleria-Area Office Tower for $27M**
SLS Properties has acquired the 11-story, 285,000-square-foot office building located at 2425 West Loop South in Houston’s Galleria area. The company purchased the property for $27 million as part of a bankruptcy sale, according to a report from the Houston Business Journal. The seller, Galleria 2425 Owner LLC, is affiliated with Jetall Capital.
The transaction was brokered by JLL’s Rick Goings, Marty Hogan, and Davis Adams, who represented the seller. SLS Properties handled the acquisition in-house. Notably, the building was designed by acclaimed architect I. M. Pei.
The property features six elevators, multiple conference centers, and a fitness center. SLS Properties plans to invest in both exterior and interior upgrades to the building.
Although currently vacant, the company is actively working with various brokers to secure tenants and will continue to lead the leasing efforts. This acquisition adds to SLS Properties’ growing Houston-area portfolio, which includes the nearby former Chevron campus acquired in 2018.
In 2023, SLS further expanded its presence in the region with the purchase of Baybrook Passage in Webster.
