DRA Advisors Buys 175,000 SF

HOUSTON-Following a two-year hold, Black Forest Ventures disposed of 17000 Katy Freeway, a 174,521-square-foot, five-year-old office building in Houston’s far west Energy Corridor submarket. The amount that New York buyer DRA Advisors LLC paid for the asset was undisclosed, though the Harris Central Appraisal District assessed the class A building at $28 million.

GlobeSt.com previously reported that Black Forest Ventures, located in The Woodlands, TX, bought the office building in 2010 from CORE Real Estate and Prudential Real Estate Investors. The property is 100% leased to Mustang Engineering and the John Wood Group.