CapRidge Partners has had a successful year in the Texas office markets, selling a 109,000 square foot office building in Houston’s Energy Corridor and trading a 262,962-square-foot Class A office asset in Irving. Now they have sold Briar Forest Crossing – an 94,404-square-foot Class A property located in Houston to LM & Associates LLC through private 1031 exchange. CommercialEdge data reveals Stellar Bank provided $7.2 million acquisition loan for the transaction.
At the time of sale 73% of this Energy Star certified building was leased by U.S Construction which underwent $4 million renovation back 2001 was represented by JLL Capital Markets team led by Marty Hogan while Doug Pack from Colliers acted on behalf of buyer and is also responsible for leasing operations at this asset .
This post first appeared on Connect CRE
