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Texas  + Houston-Galveston  + Office  | 
Houston Class A office flips

Houston Class A Office Changes Hands

CapRidge Partners has had an active year in the Texas office markets. In February, the company sold a 109,000 square foot office building situated in Houston’s Energy Corridor, while in March, it traded a 262,962-square-foot Class A office asset in Irving.  

Now, CapRidge Partners has sold Briar Forest Crossing, a 94,404-square-foot office building in Houston. LM & Associates LLC acquired the Class A property in a private 1031 exchange. Stellar Bank provided a $7.2 million acquisition loan, according to CommercialEdge data.

The property was 73.1 percent leased at the time of sale, serving as headquarters for U.S. Physical Therapy.

A JLL Capital Markets team led by Marty Hogan represented the seller in the transaction. Doug Pack of Colliers worked on behalf of the buyer and is the leasing broker for the asset.

Constructed in 1980, the Energy Star-certified office building underwent a $4 million renovation in 2001.


Inside The Story

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

  • ◦Sale/Acquisition
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