Fuller Realty Partners Acquires Parkview I & II Office Complex In Houston
333 Cypress Run, Houston, TX, 77094
Building Size
176,000 SF
Asset Type
Office
Closing
Jun 14, 2019
AI
Located at 330 Barker Cypress Road, Parkview I is a four-story building completed in 1987, while Parkview II is a three-story building developed in 1986, situated at 333 Cypress Run in Houston, TX. The office complex comprises two assets totaling 176,000 square feet and is strategically positioned less than 1 mile south of Interstate 10 and 22 miles west of downtown Houston. At the time of sale, the portfolio was 11 percent leased.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Seller's Representative: Rick Goings(JLL), Rudy Hubbard(JLL)
- Buyer: Fuller Realty Partners
- Square Footage: 176,000
The JLL team comprising Vice President Rick Goings, Managing Director Rudy Hubbard, and Senior Vice President Kevin McConn represented LNR Partners in the sale of the Parkview I and Parkview II office buildings to Fuller Realty Partners. In addition to this transaction, another JLL team recently assisted in the sale of the Milford Crossing Shopping Center, a roughly 372,000-square-foot retail center located in Milford, Conn.
Players
Houston Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93