John Silberman, part of the Houston-based NAI Partners Commercial team representing the buyer, tells GlobeSt.com that the 83,107-sf structure at 10700 NW Freeway presented a perfect scenario for Central United. The insurance company will be moving from Wortham Tower, located at 2727 Allen Parkway just west of the CBD.
Cathleen Morgan and Drew Lewis, both of NAI Partners, assisted Silberman in the negotiations for the buyer, whose holding is assessed at $3.7 million. Jim Roberts of Dallas-based First Texas Realty Group acted for the seller, Houston/Office LP, a Dallas investment group.
Central United's buy was 50% occupied at sale time. Half of the building will be used for the insurance company's home office and the balance leased until expansion space is needed.
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