Marc Drumwright of Houston-based Southwest Realty Advisors represented Offshore Capital in the transaction. H. Dan Miller of the Houston office of CB Richard Ellis handled talks for the seller, Los Angeles-based Farmers New World Life Insurance Co.

Miller tells GlobeSt.com that the 23-year-old building was one of 12 originally ticketed to sell in recent years by Farmers in Houston. Miller has been working on the disposition, which has been expanded with more properties, for four years. To date, roughly 530,000 sf has been sold, with buildings ranging from 15,460 sf up to 119,790 sf. Two properties remain, a 16,744-sf retail building at 8777 Gessner and a 23,924-sf structure at 6035 Airline. The portfolio consisted of office, retail and industrial structures.

Drumwright says Offshore Capital was interested in the building because of its exposure to the heavily traveled Katy Freeway and its Highway 6 interchange. The 100% occupancy was a bonus as well from the investors' perspective. Brokers are mum about the selling price, but the property was advertised at $810,000.