Gemini Plaza is located two blocks from NASA’s Johnson Space Center and 20 miles southeast of downtown Houston in the NASA/Clear Lake submarket, which is positioned to capture demand from companies in the high-growth space technology industry. According to Newmark research, the submarket is outperforming the broader Houston market with occupancy at approximately 88 percent compared to approximately 80 percent for the overall market.

Marketing efforts are underway for the 158,625-square-foot office building at 1150 Gemini St. Newmark vice chairmen John Alvarado and Andy Iversen, and managing director Joshua Brown are representing the seller.

Capital improvements exceeding $6 million have been completed at the property since 2014. The building has a corporate cafeteria with large dining room and surface parking at a ratio of 4/1,000 square feet. The seller, which is currently headquartered at the building, is willing to lease back approximately 50,000 square feet for up to three years.