Buchanan Street Picks Up Westport Business Center

Newport Beach-based Buchanan Street Partners recently acquired Westport Business Center, a 176,864-square-foot office/industrial flex business park in Houston. The seven-building park is situated on more than 12 acres.

The 87 percent-leased property is located at 6611-6975 Portwest Dr. inside the I-610 Loop. Buchanan Street was attracted to Westport’s strong infill location with visibility along both I-10 and I-610.

“We are excited to further grow our Houston portfolio of infill flex product in a location that is seeing tremendous growth of both residential and mixed-use development,” said Matt Haugen, senior vice president, Buchanan Street Partners. “These buildings provide us with multiple investment strategies due to the product type, location and visibility.”

Buchanan Street’s immediate plans for the project include improving the curb appeal of the business park through creation of a new signage plan, enhancing the landscape and upgrading the exterior facade to further differentiate the buildings from area competition.

“With competitive inventory continuing to diminish due to developers scraping similar buildings for higher and better uses, we feel there is a great opportunity for our buildings to benefit from tenants being pushed out of their existing locations,” says Mark Oddo, senior vice president, Buchanan Street Partners.

Trent Agnew, Rusty Tamlyn, Charlie Strauss, Lance Young and Jack Britton with JLL represented the seller in the transaction.