HOUSTON – Insite Commercial Real Estate has acquired Intellicenter, a 160,407-SF, Class A office property in northwest Houston.
Intellicenter is situated on 12.8 acres at 4650 Westway Park within the Westway Park office campus, which was developed by David Wolff’s Wolff Cos. along the West Sam Houston Tollway (Beltway 8).
The building, completed in 2007, the LEED Silver, three-story property is fully leased to The Travelers Indemnity Company and Cameron Village LLC. Cameron’s lease for 25 percent of the building expires in October 2017 and presents an opportunity to lease up vacancy.
The HFF investment sales team representing the seller was led by senior managing director Danny Miller and senior director Trent Agnew.
“Value-add office opportunities like Intellicenter are generating a lot of interest from both long-time Houston investors as well as new sources of capital, and as a result the deal generated 12 offers,” said Agnew. “Insite recognized the quality of the building and location having built similar product in the market and were great to deal with.”