KBS sells office asset in Houston
Transactions - OCTOBER 26, 2021

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

KBS sells office asset in Houston

by Released

KBS has sold Ten West Corporate Center, a fully leased, four-story, 199,001-square-foot class A office building in Houston’s Energy Corridor.

The property was purchased by a joint venture between Ellingstone Group and an overseas institutional investor. Ellingstone is a boutique investment and advisory firm that focuses on private, direct commercial real estate investments in the United States.

Houston is home to the headquarters of 24 Fortune 500 companies and is one of the largest MSAs in the country. As the “energy capital of the world,” it was an attractive place to invest when KBS originally bought the property in 2006, according to Gio Cordoves, Western regional president for KBS.

“The Energy Corridor, known as the Central Business District of West Houston, is the third largest employment center in Houston,” said Cordoves. “Given the lengthy lease term commitment at Ten West Corporate Center, we know the buyer will enjoy this cash flow posi

Forgot your username or password?