Coming out of the other side of the pandemic, the outlook for value-based suburban office product remains bullish. Moreover, “Houston is a market rich in opportunity and great real estate,” says Matthew Goldsby of Belvoir Real Estate Group LLC.
Belvoir recently purchased 12777 Jones Rd., a 119,388-square-foot class-B office building located in Northwest Houston, just off FM 1960. The property, known as Denmark House due to its unique ownership legacy, is located on 7.4 acres fronting Jones Road. The building was renovated in 2005.
Belvoir’s acquisition team was led by Goldsby and Bradley Smith. Avison Young’s Darrell Betts and Jessica Alexander represented the seller in the transaction. Belvoir will self-perform property operations including leasing and management, with Brad Kovach leading management and operations efforts.
The purchase of 12777 Jones Rd. follows Belvoir’s 2020 acquisition of 7660 Woodway, a 110,529-square-foot office property located at 7660 Woodway Dr.
Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
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