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.