HOUSTON--HFF has closed the sale of and secured acquisition financing for a 186,964-square-foot office building located at 9990 Richmond Ave. in the Westchase district of Houston.

HFF marketed the property on behalf of the seller, a joint venture between Fuller Realty Partners LLC and Harbert Management Corp. Rockwell Management Corp. purchased the property free and clear of debt. HFF also secured a 10-year, fixed-rate acquisition loan on behalf of the new owner through Natixis Real Estate Capital Inc. 

9990 Richmond Avenue is situated on 5.66 acres at the northeast corner of Richmond Avenue and Briarpark Drive, one half mile from the Sam Houston Tollway (Beltway 8). The four-story building has an attached three-story parking garage and underwent several upgrades from 2011 to 2014, including a lobby renovation. The asset is currently 92.2 leased to a variety of tenants, including Seismic City, Costello, Norris Conference Centers, U.S. Navy Recruiting, DBR Engineering and Selene Finance. 

Senior managing director H. Dan Miller, director Martin Hogan and real estate analyst Wesley Hightower led the HFF investment sales team representing the seller. Vishal Vanjani and Brian Staley led the Natixis team. Managing director Colby Mueck and real estate analyst William Crawley led the HFF debt placement team representing the buyer.

“9990 Richmond is a unique asset in that it provides for a 4.5/1,000 parking ratio in a precast concrete parking garage and offers efficient, 50,000-square-foot floor plates on the top two floors,” says Hogan.

Reps with HFF were unable to offer more details by press time.