A joint venture between Fuller Realty Partners and Independencia have closed on the purchase of Sam Houston Crossing I, a Class A office building in northwest Houston. The JV, named SH Crossing I, LP, purchased the property from Duke Realty Corporation and Chambers Street Properties. The building was marketed by HFF, which also represented the seller in the transaction. Full terms of the deal were not disclosed.
"Sam Houston Crossing I offers investors a stable current yield while providing significant upside potential," said HFF director Martin Hogan in a press release. "The building accommodates higher density tenants looking for a high profile location with Beltway 8 frontage, efficient, rectangular floor plates and a 5/1,000 parking ratio."
Located in Houston's West Belt Corridor off of the Sam Houston Parkway, Sam Houston Crossing I was completed in 2007 with a typical floor plate offering 53,000 square feet of rentable space. The 159,175 square foot building is 100% leased to six tenants: U.S. Steel; Farmers Insurance Exchange; C.H. Robinson Project Logistics; Brock Enterprises; Axon EP; and AMEC Oil & Gas.
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