HOUSTON – (Realty News Report) – Braun Enterprises has acquired an office building at 7155 Old Katy Road in the Inner Loop of Houston.
The two-story, 90,423-SF office will be redeveloped by Houston-based Braun Enterprises to appeal to small tenants.
David L. Carter and Taylor Wright of Colliers International represented the seller of the building, Houston Eye Associates.
“We received significant interest from multiple parties since the start of our marketing process,” said Colliers 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 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 percent occupied.
The Old Katy Road area, just north of Interstate 10, has been an underdeveloped district with office-service centers, designer showrooms. A few years ago, Hines came into the area with dense residential community called Somerset Green.
Braun Enterprises will incorporate its “Urban Office” concept into the development, which provide tenants with office suites, the ability to use conference rooms and coffee bars.
Braun “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.”
Over the years, Braun Enterprises has purchased and redeveloped approximately 3,500,000 square feet of commercial real estate projects, including office, retail and industrial buildings, each of which are operated, leased and managed.
April 18, 2021 Realty News Report Copyright 2021
File: Braun Buys Office Building in Houston’s Inner Loop
Photo Courtesy Colliers
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File: (2) Colliers. Braun Buys Office Building in Houston’s Inner Loop, Old Katy Road.