HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it closed the sale of 675 Bering Drive, a 135,680-square-foot office building plus a six-level, 386-space parking garage in Houston, Texas.(Simon Property Group's Galleria Mall, fourth largest in the U.S., is at right)
HFF senior managing director Dan Miller and associate director Marty Hogan led the investment sales team exclusively on behalf of the seller, Goddard Investment Group. Griffin Partners 675 Bering L.P. purchased the property for an undisclosed amount free and clear of debt.
675 Bering Dri
ve is an eight-story office building that is 70.2% leased to tenants including First Investors, Foster & Associates and Café Express. Recent property upgrades have been made to the lobby, bathrooms and elevators, as
well as the exterior landscaping.
ve is an eight-story office building that is 70.2% leased to tenants including First Investors, Foster & Associates and Café Express. Recent property upgrades have been made to the lobby, bathrooms and elevators, as
well as the exterior landscaping. Situated on two acres, 675 Bering Drive is located close to Interstate Highway 10, Loop 610, Woodway, Memorial Drive and Westheimer, which provide access to all areas of Houston.
“675 Bering Drive has significant upside potential through the lease up of 35,800 square feet of conti
guous vacant space on the 4th and 5th floors that has spectacular views of the central business district and Galleria skylines, and the green space of the Tanglewood and Memorial neighborhoods,” said Miller. “This is currently one of the largest blocks of contiguous space in the submarket.”
guous vacant space on the 4th and 5th floors that has spectacular views of the central business district and Galleria skylines, and the green space of the Tanglewood and Memorial neighborhoods,” said Miller. “This is currently one of the largest blocks of contiguous space in the submarket.”Goddard Investment Group is an Atlanta-based real estate investor that has been investing in Houston office properties for a number of years.
CONTACTS:
Laurie Fish McDowell, HFF Associate Director, Marketing One Post Office Square, Suite 3500 Boston, MA 02109, tel 617.338.0990 fax 617.338.2150 http://www.hfflp.com/ lmcdowell@hfflp.com
H. Dan Miller, CCIM, SIOR, HFF Senior Managing Director, 713 852 3500, dmiller@hfflp.com
Martin T. Hogan, HFF Associate Director, 713 852 3500, mhogan@hfflp.com
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