Opportunity Knocks with 141K-SF One Northwind Plaza Buy

SkyWalker Property Partners bought its first Houston asset for one of its funds, when Opportunity Knocks LLC, The Arlington, TX-based investor, acquired the 141,480-square-foot One Northwind Plaza at 7600 W. Tidwell Rd. in Houston’s Fairbanks-Northwest Crossing submarket from seller Aegon Asset Management. The sales price was not disclosed.

Rudy Hubbard, Kevin McConn and Rick Goings of JLL represented the seller. Monte Calvert and Michelle Wogan of Transwestern Houston will continue to lease and manage One Northwind Plaza.

The fund, will invest more than $1 million in improvements for the 38-year-old, eight-story office building, which is 66% occupied. Improvements will include new HVAC chiller units and roof. Common areas will be renovated and updated.

“We have been looking for 18 months in earnest to find something in Houston that we like,” said SkyWalker Property’s Clint Holland. He added that when freeway construction concludes in late 2018, the property “will be well-positioned for any uptick in submarket activity.”

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