Timberway One, a 93,578-square-foot office property in Houston’s Energy Corridor submarket, has found a new owner. LM & Associates acquired the property at 15990 N. Barkers Landing Road from Banyan Street Capital in 2014. The seller acquired the property as part of a 2.2 million-square-foot portfolio from Parkway Properties. JLL’s Marty Hogan led the negotiations for the sale.

Timberway One is a three-story office building that is currently 92% leased. Tenants include Thyssenkrupp, 2H Offshore and Medical Care Center. The Houston Business Journal reports that the property’s appraised value for tax purposes was $8 million as of Jan. 1, 2024.

Last year, the Energy Corridor’s office market absorbed 529,638 square feet of office space.