Galaxy II Sells to Group Led by TRC Capital Partners

Galaxy II, a class-A office building totaling 106,168 square feet, recently sold in Webster, TX for an undisclosed purchase price. The buyer was an investment group led by TRC Capital Partners LLC.

Galaxy II is positioned on 5.87 acres at 455 East Medical Center Blvd. in the NASA/Clear Lake submarket approximately halfway between Houston and Galveston. The property is just east of Interstate 45 near numerous demand drivers including the Medical Center of the South, Johnson Space Center, Kemah and the University of Houston – Clear Lake.

Completed in 2009, Galaxy II is a five-story office property with average floorplates of 21,234 square feet. The property is fully leased to tenants including United Fire Group, IBI Group and APNetwork.

JLL represented the seller, Houston-MDL LLC and procured the buyer. The JLL team representing the seller was led by Marty Hogan and Rick Goings.

Additionally, JLL worked on behalf of the buyer to secure the five-year fixed-rate acquisition loan through Independent Financial’s Houston commercial real estate team. Financing efforts were led by JLL’s James Brolan.

“Galaxy II has benefited from the continued flight to quality and will continue to outperform the market due to minimal class-A supply in the submarket with no new developments on the horizon,” says Hogan.