Office Investment Sale.
Colliers International is pleased to announce the sale of the ±95,170 square foot office building located at 10500 Richmond Avenue in Houston, Texas. The buyer, Mond Properties, represented themselves. David Carter, CCIM, SIOR and Jeff Peltier of Colliers International assisted the seller, a CMBS Trust represented by Special Servicer LNR Partners.
10500 Richmond Avenue is an atrium-style office building, situated on 5 acres at the corner of Richmond Avenue and Rogerdale Road. The office building is located in the Westchase submarket of Houston, just one block west of Beltway 8.
The Westchase office submarket consists of 17.4M square feet contained in 101 properties which are currently 79.0% leased. The average asking rental rate for office space in the Westchase submarket is $26.88 per SF.