Thursday , 17 October 2019
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Lionstone Acquires Majority Stake in CityCentre Five Office Building

Midway’s CityCentre Five

HOUSTON – (Realty News Report) – Midway has sold a majority interest in the CityCentre Five building, a 201,000-SF office building in West Houston.

JLL’s Kevin McConn, Rudy Hubbard, Rick Goings, and Michael Zietsman represented the owner, Midway Companies. A majority interest in the property was purchased by Lionstone Investments on behalf of a client for an undisclosed price. Midway will continue to manage the property.

According to Colvill Office Properties, which handles leasing of the CityCentre office buildings, reports that CityCentre Five has 9,554 SF of available space. Amazon Web Services is a major tenant in the building and a Life Time Work co-working facilty is located there.

Located in a 50-acre mixed-used development near the southwest corner of the Katy Freeway and Beltway 8, the CityCentre Five building was completed in late 2015.

“This is a world-class property in a prime location that offers tenants a unique mixed-use atmosphere with an abundance of amenities,” McConn said. “Like the other CityCentre buildings, CityCentre Five is achieving the highest rents in the city outside of the Central Business District due to all these dynamics.”

In the summer of 2018, Midway refinanced the CityCentre Five building with a $48.5 million loan from New York Life Real Estate Investors. The refinancing was arranged by HFF, which was recently acquired by HFF.

Oct. 2, 2019 Realty News Report Copyright 2019

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