Holloway Lodging Nabs Three Houston Buildings

Holloway Lodging Corp. acquired three vacant office buildings in Houston’s Greenspoint submarket. The Canadian buyer paid a total purchase price of $13.2 million for the buildings. Two of the three buildings are vacant.

The portfolio consists of the following.

• The 198,257-square-foot 222 Benmar Drive (8 Greenspoint). Holloway acquired a non-performing loan secured by, and subsequently foreclosed on, the Benmar property, formerly occupied by Exxon Mobil. The new owner is evaluating whether to keep the property for office uses, or to convert it to other uses.
• The 147,135-square-foot 16666 Northchase Drive. The six-story, Class A asset was also formerly occupied by Exxon Mobil.
• The 87,611-square-foot 263 N. Sam Houston Pkwy. This is a Class B, three-story building.

David L. Carter with Colliers International represented the seller, BH Properties, in the transaction of 16666 Northchase and 263 N. Sam Houston.

According to a statement from Holloway, the properties’ appeal is that the near north submarket is “undergoing substantial change and revitalization, with new property owners entering this submarket and investing significant capital . . .”

Pictured: 222 Benmar Dr.

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