Houston-based Radler Enterprises purchased Legacy at Fallbrook, a 207K SF Class-A office building in Northwest Houston, a submarket that has seen demand rise over the past year.
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The seller was confidential, according to the release, but online records indicate the building at 10720 W. Sam Houston Parkway N. was previously owned by EQT Exeter since at least 2018. Legacy at Fallbrook was developed by Liberty Property Trust and completed in 2014.
Radler Enterprises, the private investment and development firm managed by Tom Radom, has been active in the Class-A office market in the area for decades, according to the press release from JLL Capital Markets, which represented the seller.
The sales price was not disclosed, but Harris Central Appraisal District valued the five-story building at about $42M last year.
“The addition of Legacy at Fallbrook expands our already significant presence in the Northwest Houston submarket and reflects our confidence in the continued performance of high-quality suburban assets,” Radom said in the release.
Legacy at Fallbrook is 96% leased and LEED Gold certified. Amenities include a fitness center, conference facilities and a full-service deli. It sits on a 20-acre site that includes a 13-acre development tract for future office or industrial expansion.
The JLL investment sales and advisory team was led by Kevin McConn and Marty Hogan.
“As Houston continues to grow, developments like this are well-positioned to attract significant tenant interest and benefit from the area's dynamic population growth and economic vitality,” McConn said in the release.
Demand for top-tier space in northwest Houston grew by about 48.5K SF between the first and third quarter of 2024, representing more than 15% of the metro's overall 316K SF occupancy gain during that period.
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