Hilco Real Estate Brokers $27 Million Sale Of Twentyfour25 Galleria Office Building In Houston

The property involved in this transaction is located at 2425 West Loop South, Houston. It is an office asset comprising 285,000 square feet situated on 2.5 acres. The sale price for this property was $27,000,000, indicating a price per square foot of $95.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $27,000,000
• Address: 2425 West Loop South
• Market: Houston
• Asset Size: 285,000 SF
• Price per Square Foot: $95
• Broker Representatives: Benjamin Zaslav & Steve Madura - Hilco Real Estate
• Acres: 2.5
• Initial Listing Minimum Bid: $7,300,000
• Marketing Period: One month
• Appointed by: U.S. Bankruptcy Court
• Transaction Context: Bankruptcy sale amid rising foreclosure activity in Houston's office market

Hilco Real Estate played a crucial role in brokering the transaction of the Twentyfour25 Galleria office building. The swift marketing strategy during the one-month period attracted notable interest, leading to the successful sale of the property.