HOUSTON – (Realty News Report) – An office building near NASA’s Johnson Space Center has been acquired by a local investor, according to JLL Capital Markets.
The six-story building, called Atrium Crest, is a 107,529-SF office building is located on the south side of NASA Road 1 in the Clear Lake area on the southeast side of Houston. Houston is often called “Space City.”
JLL represented the seller, Fullerton Properties, and procured the buyer, Kashi Atrium LLC, which was represented by Patrick Hill of Colliers.
The Atrium Crest building is located at 18333 Egret Bay Blvd. near the Nassau Bay community.
NASA is a driving force in both aerospace employment and tourism. in the area. The tourism angle could become a larger draw as NASA proceeds with the Artemis space program, which is expected to take NASA astronauts for a lunar landing in three or four years.
In addition to NASA, southeast Houston has a diverse economic base comprising companies in medical, technology, logistics, tourism and the booming petrochemical industry. The 4.23-acre Atrium Crest building site is near Interstate 45, providing access north to Houston and south to Galveston Island. Additionally, the Port of Houston is just a short drive from the property, which is the busiest container port on the Gulf Coast.
Renovated in 2004, Atrium Crest has a flexible layout that can accommodate a wide variety of users and space requirements. The property is currently 79 percent leased to a variety of tenants.
The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Managing Director Marty Hogan.
“Atrium Crest offered a significant value-add opportunity through the lease-up of vacant space while acquiring the asset at an extremely competitive basis,” said Hogan.
Sept. 20, 2024 Realty News Report Copyright 2024
Image: Courtesy JLL
File: NASA Area Office Tower Sold
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