Class A Houston Office Building Changes Hands

Buyer Rycore Capital financed the acquisition of the 155,000-square-foot property with a $17.3 million loan secured by JLL.
Park 10 Centre

Rycore Capital has acquired Park 10 Centre, a 155,407-square-foot office building in Houston. Lexington Realty Trust was the seller, according to Yardi Matrix. The buyer financed the purchase with a three-year, $17.3 million floating-rate loan from Crossharbor Capital Partners, according to public records. JLL represented the seller, sourced the buyer and secured the financing.

The six-story Class A building was completed in 2000 and consists of floor plates ranging from 25,590 to 27,213 square feet. Amenities include a parking garage, fitness center, conference center and a digital energy management system. The property is 66 percent occupied by companies in the real estate, engineering and energy sectors.

The asset is located on 3.9 acres at 1311 Broadfield Blvd., within the Houston Energy Corridor’s Park 10 Regional Business Center. The property is positioned along Interstate 10, some 20 miles west of the city center.

JLL’s Kevin McConn, Rudy Hubbard and Rick Goings represented the seller. In June, the same team assisted the seller of a two-building office complex located roughly 3 miles from Park 10 Centre.