February 21, 2017
HOUSTON – Transwestern today announces it has brokered the disposition of Northborough Tower at 100 Glenborough in Houston. An undisclosed buyer purchased the 206,553-square-foot, Class A office building in Houston’s North District submarket for an undisclosed price. Transwestern’s Leah Gallagher, Michelle Wogan and Hale Umstattd represented the undisclosed seller in the transaction.
The 14-story property was 99 percent leased to Noble Energy at the time of sale, but Noble Energy does not occupy the space.
Northborough Tower was an attractive opportunity to acquire a vacant, Class A building at pricing substantially below replacement cost. The property is ideal for large users or smaller tenants seeking a strategic and cost-effective location in north Houston. Northborough Tower has been institutionally maintained with significant capital investments including elevator modernization, upgraded EMS system, and ADA-compliant restrooms, and it also provides a favorable parking ratio of 4.22 per 1,000.
Transwestern is a privately held real estate firm of collaborative entrepreneurs whodeliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Management, Tenant Advisory, Capital Markets, Research and Sustainability services, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the Houston office, follow @TranswesternHOU.