HOUSTON-Two office buildings totaling 92,499 square feet have been sold to Equitas Commercial Real Estate Holdings. Morrison Karsten Group disposed of the asset, which is situated on 2.5 acres in the Galleria/West Loop submarket.
The buildings are at 4295-4299 San Felipe and, according to the Harris Central Appraisal District, were constructed in the 1980s. The combined assessed value of the buildings is approximately $4.75 million. HCAD indicates that Morrison Karsten owned the property since 2000.
Jones Lang LaSalle managing director Rudy Hubbard and vice president Kevin McConn led the team representing the seller. “This property was attractive because it represents a prime opportunity for residential, multifamily, hotel, or office development, with no zoning restrictions,” Hubbard notes in a press release. “In addition, it offers exceptional visibility and is superbly located at the entrance to the city’s most prestigious neighborhood, River Oaks.”