Wednesday , 26 February 2020
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Houston Office Building Acquired by Tristar Alliance

The Sterling Plaza office building has been sold. Photo credit: Lee & Associates – Houston.

HOUSTON – (Realty News Report) – Tristar Alliance Properties of Houston has acquired the Sterling Plaza office building in Southwest Houston and plans extensive renovations for the property, according to Lee & Associates – Houston.

The 102,292 SF, Class-B office building is located at 10101 Southwest Freeway near Beltway 8.

Robert LaCoure and Ryan Young of Lee & Associates – Houston represented the buyer, Tristar Alliance Properties.

“Our client had specific requirements for what they needed” said Robert LaCoure, principal at Lee & Associates – Houston. “Our team exhausted all market opportunities and nothing fit, so we started digging for off-market options, and found a great asset for our client with a value-add opportunity.”

Sterling Plaza was developed in 1982, and last renovated in 2001.  The six-story building, located at the intersection of Beltway 8 and the Southwest Freeway, includes a covered parking garage with parking at a ratio of four cars per 1,000 rentable SF.

Tristar Alliance Properties is planning immediate, major renovations to the lobby, roof and HVAC, but details have not been disclosed. Lee & Associates – Houston will lease and manage the property, which currently has a total of 10,407 SF of office space available.

The seller, Mykawa Hso Limited Partnership, was represented by Patrick O’Connell with O’Connell Realty.

Jan. 24, 2020 Realty News Report Copyright 2020

 

 

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