HOUSTON-Close to a year after Khoshbin Co. re-acquired two office buildings in the North Belt submarket, the Irvine, CA developer has begun an overhaul and capital investment in the assets. As part of the repositioning effort, Khoshbin has tapped Transwestern to market and lease the class B office buildings.
“The Khoshbin Co. previously owned both of these buildings but sold them prior to the economic downturn,” explains Transwestern's executive vice president Michelle Wogan in a press release. “The opportunity presented itself for Khoshbin to reacquire the buildings. Now Khoshbin has aggressive plans to reposition and properly capitalize the buildings. Plans include an extensive capital improvement program to modernize the building systems and in-house management to better address the service level to tenants.” Wogan, along with Dani Allison, senior associate, and Evelyn Ward, leasing agent, will market and lease the properties.
The two buildings are the 181,647-square-foot 10700 North Fwy. and the 213,777-square-foot 333 N. Belt. According to the Harris Central Appraisal District, Khoshbin sold both assets in 2005.
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