HFF Closes Deal on Office Building in Texas’ Galleria Area
- Mar 11, 2016
Houston—HFF recently closed the sale of an 11-story office building located in Houston, Texas’ Galleria area. Quasar Galleria Ltd. acquired 5433 Westheimer from a joint venture partnership of funds managed by Songy Highroads LLC and EDENS in a deal facilitated by HFF.
Built in 1967, 5433 Westheimer is a 123,477-square-foot office property located at the intersection of Westheimer Road and West Alabama Street in the western portion of Houston’s Galleria area sitting in close proximity to city’s premier residential neighborhoods such as Tanglewood, Memorial Villages, River Oaks and West University Place.
The office building was recently renovated and was 81.2 percent leased to a diverse roster of tenants at the time of the sale. On-site amenities at 5433 Westheimer include an 11,000-square-foot common area with meeting space, an attached two-level, structured parking garage and a Ruth’s Chris Steak House restaurant. Space of additional expansion of the current building is available on the western edge of the site.
Senior Managing Director Dan Miller and Director Martin Hogan led HFF’s investment sales team representing the seller.
Image via Google StreetView