CapRidge To Renovate And Rebrand Entire Houston Portfolio
Austin-based CapRidge Partners kicked off a multimillion-dollar renovation plan of its recently acquired Houston portfolio. Acquired in March, the portfolio encompasses 541K SF of office space in three buildings — 1616 South Voss, 7500 San Felipe and 6363 Woodway.
Renovations will include reconfigured and upgraded finishes in each of the building lobbies, enhanced building amenity packages, upgraded common areas, restrooms and elevator cabs. Exterior updates will include landscaping, a programmable activity lawn, shaded seating areas and outdoor meeting space. Construction will commence in January with an estimated completion in summer of 2020.
The buildings commonly known as 1616 Voss and 7500 San Felipe will now be known as Memorial Tower I and Memorial Tower II, respectively. 6363 Woodway has been rebranded as Woodway Tower.
“This project embodies CapRidge’s commitment to providing a reimagined environment for both the current and future generations of office tenants in Houston’s Memorial area and the Village cities,” Stream Vice President Craig McKenna said.
CapRidge is partnering with Stream Realty Partners for the leasing and marketing of the project, led by McKenna and Matthew Asvestas. Abel Design Group was selected as lead designer for the project, Clark Condon as the landscape architect and O’Donnell/Snider Construction as the general contractor.
The portfolio is the latest in a long line of buildings taking advantage of market timing to renovate their buildings as a flight-to-quality sweeps across the slow Houston office sector.