Belvoir Real Estate Group recently completed the purchase of 7660 Woodway Dr., a 110,529-square-foot Class B office building in Houston’s Memorial Villages neighborhood. The new ownership plans to improve the property, which was built in 1982, reportedly valued at $11.3 million and currently around 90% occupied.
The acquisition follows Belvoir’s early-2019 purchase of Broadfield at Park Ten, an 85,050-square-foot office property in the Energy Corridor. Belvoir’s leasing team brought the property from 65% occupancy to 90% within three months.
“We are long-term bullish on the Houston market, as well as the other major and secondary markets across Texas,” said managing director Matthew Goldsby at Belvoir.
Belvoir’s acquisition team was led by Goldsby and Bradley Smith. JLL Capital Markets’ investment team represented the seller, with efforts led by Danny Miller and Marty Hogan. Additionally, JLL’s debt placement team, led by James Brolan and Michael Johnson, coordinated financing for the acquisition.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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