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Colliers announces the sale of a 90,423 square foot multi-tenant office building in Houston

 

Colliers is pleased to announce the sale of a 90,423 square foot multi-tenant office building located at 7155 Old Katy Road in Houston, Texas. The buyer, 7155 Old Katy Realty, LTD represented themselves in the transaction. David L. Carter and Taylor Wright of Colliers represented the seller, Houston Eye Associates.

"Braun Enterprises is thrilled to announce the acquisition of 7155 Old Katy Road and will rebrand and redevelop this unique, boutique building that caters to small tenants," said James Fitch of Braun Enterprises. "Braun Enterprises plans to complete extensive renovations to the exterior and interior of the office buildings including building out a substantial amount of Urban Office space. "

Braun Enterprises is a full-service commercial real estate company dedicated to building long-lasting relationships and contributing to the communities in which we develop. The award-winning firm specializes in ground-up development, redevelopment, and repositioning of various types of well-located real estate throughout Texas. Braun Enterprises has purchased and redeveloped approximately 3,500,000 square feet of commercial real estate projects, each of which are seamlessly operated, leased and managed.

"We received significant interest from multiple parties since the start of our marketing process," said Vice President, Taylor Wright. "We believe that the location and quality of the asset were key drivers in the successful disposition of 7155 Old Katy Road in the face of the uncertainty surrounding COVID-19."

The 2-story office building sits on 4.17 acres located in the North Loop West office submarket, which is situated just south of Uptown and southwest of downtown Houston. The submarket is currently 82.4% occupied.

 

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David Carter

Principal & Director | Houston

Houston

David Carter, Principal, Director and sits on the Governance Council. Titans Award recipient for top revenue producer and Everest Award recipient for top production across the enterprise. Carter specializes in the areas of brokerage and investment sales of office, flex and industrial buildings. Carter has successfully represented an extensive client base in dispositions, sale leaseback, build to suit, joint ventures, partnership structure, acquisitions and development.

History, confidence and expertise are Carter’s skill set that allow his clients to make the right decision with the right information. Among his professional accomplishments, Carter has successfully closed investment sales transactions in excess of $1 billion and leasing transactions in excess of 3.0MM square feet.

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Taylor Wright

Vice President | Houston

Houston

Taylor Wright, Vice President with Colliers, is part of the Occupier Advisory team in the Houston office. Taylor specializes in working with users of commercial real estate to assist them in making smart occupancy decisions in line with their occupancy goals. Taylor successfully pairs data analytics, and financial modeling with proprietary market knowledge to deliver customized occupancy opportunities to each client, while saving them their most valuable resource, time.

Taylor is a native Houstonian. He attended Memorial High School and graduated from Texas Tech University, earning a Bachelor of Arts degree in 2005. Taylor, his wife Paige and daughter Tallulah “Lula” live in the Memorial area of Houston.

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