Woodside Buys 100K SF Houston Office Building

Texas-based real estate fund manager Woodside has purchased the Woodbranch Building at 12012 Wickchester in Houston from CapRidge Partners. Woodside has adopted a comprehensive speculative suite to provide move-in ready space for office occupiers of all sizes. The six-floor, 110,000-square-foot office building has spaces that range from 935 square feet to 15,000 square feet. In addition to vacancy upgrades, Woodside plans to make extensive capital improvements to the building this year.

Stream Realty Partners has leased 12012 Wickchester for six years. Woodside will retain Stream Houston to lease the jewel-box building, with Vice President Matt Asvestas leading a team of leasing agents, “The building has been positioned as a high-quality value option in the Energy Corridor for years. Woodside is further embracing this by offering more competitive lease rates and substantial capital upgrades throughout the project.” At the time of the sale, rents averaged $16/SF. The building was about 65% occupied.