HOUSTON – ROC Bridge Partners, LLC of Salt Lake City has purchased the 1700 West Loop South office building in Houston from Younan Properties and joint venture partner Passco Cos.
The building is a Class A 272,000-square-foot office high-rise attached to the Marriott Hotel.
Younan Properties was represented by Darrell Betts of Avison Young in the transaction.
” This is a high quality, Class A asset in a strong submarket that has performed well throughout the recession,” said Zaya Younan, ceo of Younan Properties. “This asset was sold above its purchase price and traded at an impressive 6.0 cap rate, which is indicative of the building’s quality and performance.”