The Woodlands-based development company Howard Hughes purchased 10101 Woodloch Forest Drive for $16.3 million. The existing office building will be rebranded as 7 Waterway and will create 200,000 square feet of additional office space in The Woodlands. JLL represented the seller, Net Lease Office Properties, in the sale of the property to Howard Hughes Holdings Inc.

The newly purchased office tower is across the street from Waterway Plaza II, which Howard Hughes bought for $19.2 million in June 2024.

The building was originally built in 2009 and recently underwent a refresh of its lobby and on-site amenities, which include food service, a fitness center, greenspace and outdoor seating. The Houston Business Journal reports the building was known as the McKesson Building for over a decade. US Oncology Inc., a cancer care provider owned by McKesson Corp., recently moved out of 10101 Woodloch Forest Drive and into 9950 Woodloch Forest Tower, one of The Woodlands Towers at The Waterway.