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HOUSTON-After six months on the market and six offers, a 19,000-sf office building in the FM 1960 submarket of northwest Houston has been sold to the locally based Bruce B. Dice Foundation in an all-cash deal. The asking price was $1.1 million.

Century Care Properties of Houston is the seller and a sister operation to one of seven tenants in the 19-year-old building, situated on slightly more than an acre near the intersection of Stuebner Airline Road and FM 1960 West. Rob Banzhaf in the Houston office of NAI Partners Commercial tells GlobeSt.com that the seller purchased the property in 1988 and leased it to his nursing home business, Century Care Inc.

Banzhaf says Century Care was sold some time ago and the former owner finally decided to sell the building too. Century Care Inc. holds a short-term lease for its office space in the 80%-leased building. The buyer’s plan is to move one of its non-profit organizations into the building while reaping an income stream from the rest of the roster, says Banzhaf, who along with Dan F. Boyles Jr., also with NAI Partners Commercial, handled both sides of the transaction.

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