Equus Sells Houston Office Asset

Equus Capital Partners has sold 5300 Memorial Drive, a 153,671-square-foot office property in Houston. CAMCO Investment Group purchased the asset through an acquisition loan issued by Cornerstone Capital Bank. JLL Capital Markets brokered the deal on behalf of the buyer and arranged the financing.

The property debuted in 1983. Equus acquired it in 2016 in a $60 million portfolio transaction involving two Houston office buildings totaling 302,000 square feet.

Three years later, 5300 Memorial underwent a renovation effort with a focus on workplace well-being through the addition of new conference rooms, as well as updating exteriors, the lobby and common areas, among other enhancements. In 2020, the building became subject to a $22 million loan issued by East West Bank, Yardi Matrix shows.

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Rising 11 stories, the building features an average floorplate of 15,500 rentable square feet. It was 90.1 percent leased at closing to multiple firms, including life science company Moleculin Biotech, as well as several law tenants such as Axelrod, Smith & Kirshbaum and Diggs & Sadler.

The property is located on the corner of Detering Street and Memorial Drive, about 4 miles east of downtown Houston. Memorial Park is less than 1 mile away, while Loop 610 runs within about 3 miles.

JLL Managing Directors Marty Hogan and Kevin McConn led the team that represented CAMCO in the deal, while Senior Director John Ream negotiated the debt agreement.

Houston is off to a solid office start in 2026

Houston’s office market hit the ground running in 2026, with the investment volume clocking in at $295 million during the first two months of the year, ahead of Dallas ($266 million) and Austin ($17 million), according to a Yardi Matrix report.

One noteworthy deal that closed this year included KBR Tower’s sale. The 1 million-square-foot asset traded for just $66 million in January, while it had previously commanded $174.6 million in 2012, Yardi Matrix shows. Namdar Realty acquired the building from Net Lease Office Properties.