14-Story Uptown Office Changes Hands
Lingerfelt CommonWealth Partners has entered the Houston office market with the purchase of 1700 West Loop, a 14-story, 272K SF building in Uptown. The asset is 81% occupied. ROC Bridges Partners sold the property for $52M after purchasing it in 2012 for $36.3M, the Houston Chronicle reports. Burns & McDonnell, an international engineering, architectural and consulting firm, is the building's anchor tenant.
“We have been tracking the market and believe the basic fundamentals are strengthening. We look forward to exploring other opportunities and expanding our presence,” Lingerfelt Senior Vice President Jay Kraft said in a statement.