HOUSTON – Austin Management Group, a Houston firm led by Steve Moore, has acquired the Northborough Tower, a 14-story office building at 100 Glenborough Drive in the Greenspoint area.
The 206,533-SF building is currently vacant, although it is 99 percent leased until 2018 by Noble Energy.
Transwestern’s Leah Gallagher, Michelle Wogan and Hale Umstattd represented seller. The building was formerly owned by an entity affiliated with Behringer Harvard.
Northborough Tower was an opportunity to acquire a vacant, Class A building at pricing substantially below replacement cost. The property is suited for large users or smaller tenants seeking a strategic and cost-effective location in north Houston.
Northborough Tower has been institutionally maintained with significant capital investments including elevator modernization, upgraded EMS system, and ADA-compliant restrooms, and it also provides a parking ratio of 4.22 per 1,000.
March 7, 2017 Realty News Report Copyright 2017