Sterling Plaza Sterling Plazais a 102,292-square-foot class-B office building located at 10101Southwest Fwy.

|

HOUSTON—After an exhaustive search, subsequent digging led to anoff-market opportunity in Sterling Plaza, a 102,292-square-footclass-B office building located at 10101 Southwest Fwy. It recentlysold to Tristar Alliance Properties for an undisclosed price. Theseller was Mykawa Hso Limited Partnership.

|

Sterling Plaza was developed in 1982 and last renovated in 2001.It is located at the intersection of Beltway 8 and the SouthwestFreeway in Southwest Houston. The building offers Southwest Freewayfrontage.

|

"We were really selective in our process, and this building metour specific requirements," Shezad Kapadia of Tristar AllianceProperties tells GlobeSt.com. "The property is not onlywell-positioned, but there's an opportunity for us to go in andquickly add value as well."

|

Tristar Alliance Properties is planning immediate, majorrenovations to the lobby, roof and HVAC, but details have not beendisclosed.

|

Robert LaCoure and Ryan Young of Lee & Associates–Houstonrepresented Tristar Alliance Properties. Lee &Associates–Houston will lease and manage the property, whichcurrently has a total of 10,407 square feet of office spaceavailable.

|

"Our client had specific requirements for what they needed,"said Robert LaCoure, principal at Lee & Associates–Houston."Our team exhausted all market opportunities and nothing fit, so westarted digging for off-market options, and found a great asset forour client with a value-add opportunity."

|

The six-story property includes a covered parking garage withparking at a ratio of four cars per 1,000, 24-hour access, anon-site property manager, bus line location, signage, controlledaccess, and plug and play.

|

"The depth of our Lee & Associates team and the technologyfocus on digital platforms for today's marketplace allows us tocast a wider net," LaCoure tells GlobeSt.com. "We all worked handin hand to find the right building for our buyer."

|

The seller was represented by Patrick O'Connell with O'ConnellRealty.

|

In the last 10 years, Greater Houston area's population hasgrown by 1.1 million people, now surpassing 7 million, according tothe Greater Houston Partnership. Workers have gathered here insearch of job opportunities, an affordable cost of living andquality of life. Metro Houston created 88,000 jobs, a 2.8%increase, in the 12 months ending December 2019, according to theTexas Workforce Commission. Houston's unadjusted unemployment ratewas 3.6% in December, unchanged from 3.6% in November and down from3.9% in December of last year.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.