**SLS Properties Acquires Distressed Galleria-Area Office Tower for $27M**
SLS Properties has acquired the 11-story office building located at 2425 West Loop South in Houston’s Galleria area. The company paid $27 million for the 285,000-square-foot property, which was part of a bankruptcy sale. The building was previously owned by Galleria 2425 Owner LLC, an entity associated with Jetall Capital.
The sale was brokered by JLL representatives Rick Goings, Marty Hogan, and Davis Adams, who represented the seller. SLS represented itself in the transaction.
Designed by renowned architect I. M. Pei, the building features six elevators, several conference centers, and a fitness center. SLS Properties plans to make significant upgrades to both the building’s exterior and much of the interior.
Although the building is currently vacant, SLS is actively working with multiple brokers to secure a qualified tenant and will oversee the leasing efforts directly.
This latest acquisition aligns with SLS’s broader real estate investment strategy. The company is also planning to redevelop the nearby former Chevron campus, which it acquired in 2018. Additionally, SLS expanded its portfolio last year with the acquisition of Baybrook Passage in Webster.
