Office Investment Sale.
Colliers International is pleased to announce the sale of the ±95,170 square foot office building located at 10500 Richmond Avenue in Houston, Texas. The buyer, Mond Properties, represented themselves. David Carter, CCIM, SIOR and Jeff Peltier of Colliers International assisted the seller, a CMBS Trust represented by Special Servicer LNR Partners.
10500 Richmond Avenue is an atrium-style office building, situated on 5 acres at the corner of Richmond Avenue and Rogerdale Road. The office building is located in the Westchase submarket of Houston, just one block west of Beltway 8.
The Westchase office submarket consists of 17.4M square feet contained in 101 properties which are currently 79.0% leased. The average asking rental rate for office space in the Westchase submarket is $26.88 per SF.
About Colliers International
Colliers International (NASDAQ, TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, have delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.
