Invesco Sells 240 KSF West Houston Asset

Capital Commercial Investments has acquired Energy Crossing I, a 240,166-square-foot office building in Houston’s Energy Corridor. JLL brokered the deal on behalf of the seller.

Invesco Real Estate is the previous owner of the three-story asset, according to Yardi Research Data. The firm acquired the building, along with the adjacent Energy Crossing II, in a $169.9 million portfolio transaction in July 2014, from Lincoln. Last year in November, Capital Commercial also purchased Energy Crossing II, the 327,404-square-foot neighboring building built in 2014.

Located at 15021 Katy Freeway, Energy Crossing I was completed in 2010, some 18 miles away from downtown Houston. The George Bush Intercontinental Airport is 30 miles northeast of the Class A property.

The low-rise has floorplates ranging from 10,000 to 40,000 square feet, as well as 1,800 square feet of ground-floor retail space. The LEED Gold-certified property has a fitness center, four passenger elevators and more than 1,070 parking spaces, along with an onsite café.

JLL Capital Markets Managing Director Kevin McConn and Senior Director Rick Goings led the Investment Sales and Advisory team that facilitated the deal. 

Houston office sales remain steady

Houston ranked fifth nationally for office investment volume year-to-date through June, according to the latest Yardi Matrix office report. The metro’s total sales reached $1.2 billion, with assets trading for an average of $109 per square foot.

Last month, Beland Properties purchased 10001 Six Pines, a 200,000-square-foot office building in suburban Houston. The eight-story property changed hands in a deal also brokered by JLL.