J. Kenneth Dunn, president of Rainier Capital, says thebuildings, located at 600 and 700 N. Sam Houston Parkway, traded inthe range of $10 million to $20 million. According to the HarrisCounty Appraisal District, the buildings are assessed at nearly $6million.

The office buildings are situated on 10.4 acres along Beltway 8in the Greenspoint submarket. Northbelt Office Center III is anell-shaped building with 55,700 sf. It is fully occupied by theUnited States Postal Service. Northbelt Office Center IV, also anell-shaped, totals 51,500 sf. The Blue Bell, PA-based Unisys Corp.leases more than half of the structure, with the balance of thespace still in shell shape.

Dunn tells GlobeSt.com that Rainier pursued the deal for morethan eight months before closing on the buildings. "It's a stableinvestment and the yield works for our investors," he says,explaining that the investment company provides an 8%-plusreturn.