HOUSTON-Following less than a two year hold after acquiring a 100,558-square-foot, class B office building from foreclosure, Braun Enterprises sold 6300 W. Loop South to local investor Equitas Commercial Real Estate Holdings. The building is 95% leased.
The sales price on the 1970s office building was undisclosed. The Harris Central Appraisal District assesses the asset at just under $6 million. . CBRE Vice President Todd Casper and CBRE First Vice President Michael Hassler negotiated the sale on behalf of the seller.
“6300 provided a unique opportunity to invest in area with controlled future development,” Casper says in a press release. “Bellaire’s restrictions not only help insulate the value of the city’s property base, it also provides a property owner with an attractive community in which tenants can live.”
The building fell into foreclosure in 2010, with Braun subsequently buying it from Midland Loan Services Inc. At the time Braun acquired it, occupancy had been 75% leased.