218K-SF Centre One Sells, Following Long-Term Hold

Pacifica Cos. of San Diego, CA ended its long-term hold of the 218,312-square-foot Centre One, a Class A office building on Houston’s southwest side. Hrise LLC acquired the 11-story building at 9800 Centre Pkwy. The seller had acquired the 35-year-old building in 2007.

David Carter with Colliers International represented the seller; Captex Commercial Property’s Bill Oates negotiated on behalf of the buyer. The sales price was not disclosed; the asking price was $14.5 million.

The building, situated on 3.6 acres (with an additional 3.3 acres of additional parking), is 63% occupied.

According to promotional material from Colliers International, Centre One provided a value-add opportunity, due to below-market rents.

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