HOUSTON – Quasar Galleria Ltd. has purchased the 5433 Westheimer office building, an 11-story building in Houston’s Galleria area.
NAI Partners, led by Doug Pack and Sam Hensen, will lease and manage the 133,000-SF building, which is just west of the Galleria.
Quasar Galleria is a Houston investment group, with Ronny Hecht as principal.
HFF marketed the asset on behalf of the seller, a joint venture partnership of funds managed by Songy Highroads, LLC and EDENS.
5433 Westheimer is situated at the intersection of Westheimer Road and West Alabama Street in the western portion of Houston’s Galleria area less than a half mile west of the Galleria Mall. The property is immediately adjacent and directly connected to Houston’s first aloft hotel by Starwood, which was also developed by the JV partnership of Songy and EDENS.
Additionally, the office building is less than a 15 minute drive to Houston’s premier residential neighborhoods including Tanglewood, Memorial Villages, River Oaks and West University Place.
Originally built in 1967, the property has been recently updated and is 81.2 percent leased to a diverse roster of tenants. On-site amenities include Ruth’s Chris Steak House, an 11,000-square-foot common area with meeting space, and an attached two-level, structured parking garage. The property also offers potential for additional development on the western edge of the site.
The HFF investment sales team representing the seller was led by senior managing directors Dan Miller and Robert Williamson and director Martin Hogan.