Houston Office Portfolio Trades in Energy Corridor

LNR Partners previously purchased the two-building, 176,000-square-foot Parkview complex out of foreclosure in 2017. JLL facilitated the disposition on behalf of the seller.
Parkview I and II. Image courtesy of JLL

LNR Partners has sold the 110,480-square-foot Parkview I and the 65,220-square-foot Parkview II situated within Houston’s Energy Corridor to Fuller Realty Partners. The CMBS special servicer had purchased the office complex out of foreclosure in 2017, according to Yardi Matrix information.

Located at 330 Barker Cypress Road, Parkview I is a four-story building completed in 1987. Parkview II, a three-story building developed in 1986, is situated at 333 Cypress Run. The two assets are less than 1 mile south of Interstate 10 and 22 miles west of downtown Houston. Parkview is close to several residential properties. At the time of sale, the portfolio was 11 percent leased.

The JLL team of Vice President Rick Goings, Managing Director Rudy Hubbard and Senior Vice President Kevin McConn represented LNR Partners in the transaction. Recently, another JLL team assisted the seller in the $59.3 million disposition of Milford Crossing Shopping Center, a roughly 372,000-square-foot retail center in Milford, Conn.