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333 Cypress Run, Houston, T...

Fuller Realty Partners Acquires Parkview I & II Office Complex In Houston
SOLDOffice

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

Rick Goings

JLL

Broker

$115M

vol

37 deals

Broker
Fuller Realty Partners
Fuller Realty PartnersBuyer

Houston Office Market Snapshot

Boundary boundary · Office · Sale transactions

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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