HOUSTON--Doug Pack with NAI Partners and Logan Brown of Logan Brown Investment Real Estate have negotiated the sale of 6671 Southwest Freeway. The 8-story, 153,158-square-foot office building was owned by Fugro.
The buyer was 6671 SW Frwy LP, a private investor. According to Pack, Fugro sold the building because the company no longer had need for the additional space.
The building has recently undergone major capital improvements, and now features class A finishes.
“The buyer feels that, as oil prices contract, tenants will be attracted to a high-quality asset which at $18/psf gross rates and that is half of the average effective rate in the Galleria,” Pack told GlobeSt.com. “Even if companies don't move, the front-office CEOs can move back office(s) to this location and save a great deal of money.”
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