HOUSTON – In an office buy/land assemblage in the Energy Corridor, The Mission Cos. purchased Ashford Place II & III, two low-density office buildings in the Energy Corridor. The low-rise buildings have ample grassy lawns and surface parking, making them ideal for new high-rise construction in the next cycle.
The Mission Companies already owns two buildings adjacent to Ashford Place II & III, and the recent purchase raised its total holdings in the Energy Corridor to 12 acres.
Built in the 1970s, Ashford Place II is a 58,730-square-foot office building located at 950 Threadneedle. Ashford Place III is an 84,775-square-foot office building located nearby.
JLL’s Capital Markets personnel involved included Rudy Hubbard, Kevin McConn and Rick Goings. The seller was Insite Realty.
“The combined acreage makes this one of the most superior redevelopment parcels in West Houston and already has an existing long term outlook as a covered land play,” said Hubbard.