Braun Enterprises Snags Houston Office Asset
- Jan 10, 2018
HFF has arranged the sale of a boutique office property totaling 162,188 square feet in Houston’s Galleria submarket. Woodway Office Partners LLC, a joint venture of Fuller Realty Partners and Harbert Management Corp., sold the two-building asset to a partnership led by Braun Enterprises.
Diverse tenant base
Located at 5757 Woodway Drive, the two- and four-story property sits on a 4-acre parcel and was completed in 1977. Occupied by a diverse tenant base spanning the finance, health-care, communication, technology and education sectors, 5757 Woodway was 70 percent leased at the time of sale.
The HFF team of Senior Managing Director Dan Miller and Senior Director Marty Hogan represented the seller in the transaction. According to Yardi Matrix, the complex previously traded hands in 2012. In a similar deal, HFF brokered the sale of Intellicenter, a Class A office building in Northwest Houston.
Situated on the south side of Woodway Drive between Augusta and Bering Drive, 5757 Woodway is directly adjacent to the 4.6-acre Tanglewood Park. The property is close to several retail venues including the Houston Galleria, Memorial Villages and River Oaks, as well as the Houston Country Club.
Image courtesy of Yardi Matrix