The Deal Sheet, Part 2
Cushman & Wakefield of Texas nabbed the property management and exclusive agency leasing assignment for Heritage Square I & II, recently purchased by Brookwood Financial Partners. And, the timing couldn’t be better, says C&W senior director Matt Schendle.
As the LBJ construction approaches the finish line, owners and buyers, as well as the office-users, are seeing light at the end of the tunnel (pun totally intended). Matt tells us that tenants are looking to return or move their offices to the LBJ/Tollway intersection and reap the benefits of one of the best locations in the city now that they aren’t mired by road construction. The timing couldn’t be better for Brookwood, he says. Here’s the leasing team on top of the building with LBJ/Tollway intersection in the background: JJ Leonard, Rena Chappell, Meredith Durham, and Matt.
And here’s the view of LBJ from the top of the building. (If you see any traffic violations, please report them to the authority and refer them to this photo.) Brookwood purchased the property from Silvertree Partners. C&W’s Scot Farber and Tom Strohbehn brokered the sale. The property is 60% leased. Matt says new ownership has plans to invest $6M in capital improvements, which should increase interest and retention of current tenants. Among the planned improvements: upgrading the landscaping, renovating the entrances, lobbies, common areas, bathrooms, café and conference, and adding fitness centers.