HOUSTON – Rosemont Realty, LLC, a leading commercial real based in Santa Fe, N.M., has acquired Kirkwood Tower in Houston’ Energy Corridor.
The acquisition of the 15-story tower adds 285,682 rentable square feet of Class A office space to Rosemont Realty’s portfolio. It brings the company’s total square footage in the greater Houston area to nearly 2.5 million square feet, including Kirkwood Atrium II next door.
Rosemont Realty purchased the office building in a joint venture with new Rosemont investor Central Properties. The seller was a joint venture between Denver-based Amstar and Dallas-based Frontier Equity.
“The addition of Kirkwood continues our overall strategy of expanding in key markets where we have a substantial presence,” said Michael Mahony, chief executive officer of Rosemont Realty. “Adding Kirkwood to our portfolio bolsters our existing footprint in Houston, where we have the support and infrastructure in place to provide first class, full-service asset and property management, and leasing services.”
Kirkwood Tower, at 11757 Katy Freeway, is an institutional quality Class A office building in the heart of Houston’s highly-desirable Energy Corridor submarket, providing tenants with convenient access to global energy giants such as BP, ConocoPhilips, Dow Chemical and Shell. The building was built in 1984, with major capital projects completed between 2008 and 2010, and in 2012 through 2013.
“Kirkwood represents the kind of opportunity that was right for Rosemont and our joint venture partner,” said Don Henry, chief investment officer for Rosemont Realty. “Kirkwood meets our investment criteria; it is a high-quality, Class A, institutionally-maintained building strategically located in a well-performing submarket.”
The Kirkwood Tower is currently 92 percent occupied. Tenants include Texon LP, Skyline Executive Suites, Ltd., KCA Deutag, LLC, First Solar, Inc., Greene’s Energy Group, LLC, and Mac Haik Holding Company, Inc., among others.
Rosemont Realty, founded in 1991, has regional offices in Albuquerque, Atlanta, Dallas, Denver, Houston, New York, Peoria, San Antonio, Tulsa, and Washington, D.C. The estate investment company with holdings of 16.1 million square feet of commercial office space.