{"id":1004738328,"date":"2024-11-22T05:15:31","date_gmt":"2024-11-22T13:15:31","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004738328"},"modified":"2024-11-22T05:19:18","modified_gmt":"2024-11-22T13:19:18","slug":"capital-commercial-buys-houston-office-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/capital-commercial-buys-houston-office-building\/","title":{"rendered":"Capital Commercial Buys Houston Office Building"},"content":{"rendered":"\n<p>Capital Commercial Investments Inc., of Austin, Texas, has acquired Energy Crossing II, a 327,404-square-foot office building in Houston\u2019s Energy Corridor. JLL Capital Markets led the sales effort for the property.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/Energy-Crossing-II.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"620\" data-attachment-id=\"1004738350\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/capital-commercial-buys-houston-office-building\/energy-crossing-ii\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/Energy-Crossing-II.jpg\" data-orig-size=\"800,620\" 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;1712259417&quot;,&quot;copyright&quot;:&quot;&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=\"Energy Crossing II\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;The Energy Crossing II office building is situated in Houston\u2019s Energy Corridor. Image by Jud Haggard Photography, courtesy of JLL Capital Markets&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/Energy-Crossing-II.jpg?w=800\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/Energy-Crossing-II.jpg\" alt=\"The Energy Crossing II office building in Houston\u2019s Energy Corridor\" class=\"wp-image-1004738350\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/Energy-Crossing-II.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/Energy-Crossing-II.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/Energy-Crossing-II.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/a><figcaption class=\"wp-element-caption\">The Energy Crossing II office building is situated in Houston\u2019s Energy Corridor. <em>Image by Jud Haggard Photography, courtesy of JLL Capital Markets<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Invesco Real Estate was the building\u2019s previous owner, according to CommercialEdge data. The transaction\u2019s dollar value was not disclosed.<\/p>\n\n\n\n<p>Energy Crossing II was completed in 2014 on a 5.47-acre site at 15011 Katy Freeway. The eight-story property offers flexible floorplates averaging 42,648 square feet. Amenities include LEED Platinum certification, a fitness center and an on-site parking garage. The building is currently about 30 percent leased; JLL described it as positioned to capitalize on the office market\u2019s \u201cflight-to-quality\u201d trend.<\/p>\n\n\n\n<p>The building\u2019s major tenant currently is MODEC Inc., at 168,400 square feet, according to CommercialEdge data. Founded in Tokyo in 1968, the company is a worldwide supplier and operator of offshore floating platforms for the oil and gas industry.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/return-to-office-traffic-reaches-record-level\/\">Return-to-Office Traffic Reaches Record Level<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The site is adjacent to I-10, providing access to Beltway 8 and Westpark Tollway, as well as downtown Houston, the Galleria, the George Bush Intercontinental Airport and several premier residential areas, including The Villages, Briar Forest and River Oaks.<\/p>\n\n\n\n<p>The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Managing Director Kevin McConn and Senior Director Rick Goings.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-middling-market\">Middling market<\/h2>\n\n\n\n<p>Houston\u2019s office market presents a mixed picture, with modest positive net absorption in the third quarter, ending a four-quarter streak of negative absorption, according to a new report from JLL. Overall vacancy is 26.4 percent, however, and the report described recent leasing activity as moderate.<\/p>\n\n\n\n<p>The West Houston submarket (Katy Freeway East, Katy Freeway West and Westchase) saw 630,997 square feet of positive absorption, far outpacing the Houston region as a whole.<\/p>\n\n\n\n<p>In June, Howard Hughes Holdings Inc. <a href=\"https:\/\/www.commercialsearch.com\/news\/howard-hughes-lands-130m-refi-for-houston-area-office-tower\/\">secured a $130 million refinancing package<\/a> for 9950 Woodloch Forest Drive, a 601,000-square-foot Class A office building in The Woodlands, Texas, from Wells Fargo and Argentic Real Estate Finance. The deal was significant for being Howard Hughes\u2019 largest debt maturity in the following two years.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JLL Capital Markets arranged the transaction.<\/p>\n","protected":false},"author":882,"featured_media":1004738350,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1589,21783,21742,21747,51973],"tags":[33914,33882,32796,44006],"class_list":["post-1004738328","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-houston","category-investment","category-latest","category-office","category-southwest","tag-capital-commercial-investments","tag-invesco-real-estate","tag-jll","tag-jll-capital-markets"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Capital Commercial Buys Houston Office Building - 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