Sources familiar with the Houston market tell GlobeSt.com that the four-year-old, 93%-occupied office building has brought close to $20 million. Turner-Adreac Development Co. and Transworld Properties, the co-developers, had the asset on the market about four months.

Richard Rudd, senior managing director in Houston for Granite Partners LLC says the developers had always planned to sell the property once it was stabilized. The tenant roster has a lease rollover of 3 1/2 to four years, he tells GlobeSt.com.

"Investor interest in the property was strong," Rudd said in a press release, "due to its Westchase location and high-occupancy level." About 10 offers crossed the seller's table for the multi-tenant building, according to Rudd.

The Westchase submarket is a popular pick for investors. In fact, it's taken a strong lead in recent years due to convenient access to the densely populated suburbs to the west and south of Houston's city limits, Rudd adds. The submarket has about six million sf of class A office space in 17 buildings. Rent averages $21.41 per sf.

Since the building is fairly new, Rudd says Litchfield will not need to invest capital into upgrades which he believes is intended to be a long-term hold. "Litchfield should do well with its investment," he concludes, noting the buyer also owns the 154,000-sf 1500 Citywest in the same submarket.