An office tower in Houston’s Galleria area has been acquired by a Chicago-based real estate investment firm, which plans to invest in extensive renovations to the property. Level X Group’s planned renovations include a coffee bar, a new fitness center, an updated conference center, a game room, tenant lounge and a golf simulator. The renovations are scheduled to begin next year.
Level X Group paid an undisclosed amount to purchase the 16-story 2100 West Loop South tower from Houston-based Tarantino Properties.
Robert LaCoure, a principal at Lee & Associates, is the leasing agent for the 385,000 square foot tower. He says the new owners saw great potential in the building, “They were looking for a value-add property outside of downtown. This building has great access where you can get on and off the freeway very easily. It also offers a fantastic opportunity for a long-term covered land play, should they decide to replace it with a larger tower in the future.”
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.
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