Office Building Near NASA Acquired

WEBSTER, Texas – (Realty News Report) – TRC Capital Partners, a Houston-based real estate firm, has acquired the Galaxy II office building located near NASA’s Johnson Space Center.

Galaxy II, 455 East Medical Center Blvd, is a 106,000-SF property fully leased to tenants including United Fire Group, IBI Group and APNetwork.

TRC Capital Partners and a related firm TTRC Ventures are led by CEO Steve Lerner. The group was previously known as The Redstone Companies, LLC.

Galaxy II is positioned on 5.87 acres at 455 East Medical Center Blvd. in the NASA / Clear Lake submarket, which is approximately halfway between Houston and Galveston. The building was designed by the Gensler architecture firm.

Located in southeast Harris County, the property is just east of Interstate 45 providing north south access and is close to numerous demand drivers, including The Medical Center of the South, Johnson Space Center, Kemah and The University of Houston – Clear Lake.

Completed in 2009, Galaxy II is a five-story office property with average floor plates of 21,234 square feet. The property is fully leased and home to tenants, including United Fire Group, IBI Group and APNetwork.

The seller, Houston-MDL was represented by Marty Hogan and Rick Goings of JLL Capital Markets. Financing efforts were led by JLL Capital Markets’ James Brolan.

“Galaxy II has benefited from the continued flight to quality and will continue to outperform the market due to minimal Class A supply in the submarket with no new developments on the horizon,” Hogan noted.

The Clear Lake area has gained some momentum recently with activity related to space related firms.

Griffin Partners, a Houston real estate firm led by Fred Griffin, will develop a building at Houston Spaceport for Hamilton Sundstrand, a subsidiary of Collins Aerospace. The 115,000-SF facility, located on the south quadrant of the Ellington Airport, will provide 50,000 SF of corporate office space and an additional 10,000 SF will be used as a spaceflight accelerator for collaboration of start-up entrepreneurs and businesses involved in space ventures.

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File: Office Building Near NASA Acquired

Photo Credit: Mabry Campbell