5757 Woodway Sells to Braun Enterprises

Joint venture Woodway Office Partners LLC sold 5757 Woodway, a 162,188-square-foot boutique office property in Houston. Investor Braun Enterprises acquired the property in the Galleria submarket for an undisclosed price; the property is valued at $14.9 million.

The seller, a partnership between Fuller Realty Partners and Harbert Management Corp., was represented by an HFF team led by Dan Miller and Marty Hogan. The disposition represents the second time during which Fuller Properties sold the property.

The two-and four-story office asset, which delivered in the late 1970s, is 70% occupied. The diverse tenant base includes finance, healthcare, communication, technology and education companies. According to an HFF flyer, the average remaining lease term is a little more than 3.5 years.

Connect Houston will take place Feb. 7 at Station 3! Log on here for more details.

For comments, questions or concerns, please contact Texas Commercial Real Estate News Editor Amy Sorter