{"id":1004606174,"date":"2022-10-11T05:29:55","date_gmt":"2022-10-11T13:29:55","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004606174"},"modified":"2022-12-08T19:29:13","modified_gmt":"2022-12-09T03:29:13","slug":"level-x-group-enters-houston-with-165-ksf-buy","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/level-x-group-enters-houston-with-165-ksf-buy\/","title":{"rendered":"Level X Group Enters Houston With 165 KSF Buy"},"content":{"rendered":"<div id=\"attachment_1004606186\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/9819-e1665401019697.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004606186\" data-attachment-id=\"1004606186\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/level-x-group-enters-houston-with-165-ksf-buy\/attachment\/9819\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/9819-e1665401019697.jpg\" data-orig-size=\"640,480\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;\\u00a9 Yardi Systems, Inc.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"9819\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/9819-e1665401019697.jpg?w=640\" class=\"wp-image-1004606186 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/9819-e1665401019697.jpg?w=300\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/9819-e1665401019697.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/9819-e1665401019697.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004606186\" class=\"wp-caption-text\">2100 W. Loop S.<\/p><\/div>\n<p><strong>Level X Group<\/strong> has entered the Houston market with the purchase of a 165,399-square-foot office building in Uptown District. A legal entity linked to <strong>Elite Street Capital<\/strong> sold the property at 2100 W. Loop S. for an undisclosed price, according to Harris County records.<\/p>\n<p>Public records also show <strong>Farmers &amp; Merchants Bank<\/strong> provided Level X with an $11 million acquisition loan. The bridge financing has a maturity date set for September 2024. The property previously changed hands in 2017, according to CommercialEdge data.<\/p>\n<p>The 16-story building dates back to the 1970s and features 10,500-square-foot floorplates, four passenger elevators, 579 parking spots and first-floor retail space. The property offers direct access to floors one through four from the parking garage.<\/p>\n<p>Part of the Galleria submarket, the 1.3-acre site is located between Westheimer Road and San Felipe Street, across Interstate 610 and close to Interstate 69. The office asset is 1 mile away from The Galleria, the state\u2019s biggest shopping center, and roughly 10 miles away from downtown Houston.<\/p>\n<p>Level X Group Partner Jamail Virani was the leader of the acquisition, according to the <em>Houston Business Journal<\/em>. <strong>Lee &amp; Associates<\/strong> Principals Robert LaCoure and Jill Nesloney, Co-Managing Principal Chris Lewis and Associate Bryce Adams will be in charge of leasing and will also provide property management services.<\/p>\n<h2>A value-add investment<\/h2>\n<p>The new ownership&#8217;s capital improvement plan includes upgrades to the lobby and conference room, as well as the addition of a tenant lounge, fitness center and game room\u2014all scheduled to be implemented next year, according to LaCoure. The building&#8217;s current tenant roster includes Layton Energy, Ocean Flow International, Dahill Office Technology Corp. and Premier Performance Physical Therapy.<\/p>\n<p>More than 13.4 million square feet of office space have changed hands in the Houston metro year-to-date as of October, CommercialEdge data shows. Transactions included Hines Global Income Trust&#8217;s <a href=\"https:\/\/www.commercialsearch.com\/news\/hines-global-pays-145m-for-houston-tower\/\">$145 million purchase<\/a> of a 206,000-square-foot asset, as well as Office Properties Income Trust&#8217;s <a href=\"https:\/\/www.commercialsearch.com\/news\/mens-wearhouse-houston-hq-trades\/\">sale of a 206,400-square-foot<\/a> building comprising the Men\u2019s Wearhouse corporate headquarters.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The new owner plans to renovate the Uptown asset.<\/p>\n","protected":false},"author":2991,"featured_media":1004606186,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1589,21783,21742,21747],"tags":[37878,44087,32762],"class_list":["post-1004606174","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-houston","category-investment","category-latest","category-office","tag-elite-street-capital","tag-farmers-merchants-bank","tag-lee-associates"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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