Lingerfelt acquired a 14-story office tower in Houston for $52 million. (Lingerfelt CommonWealth Partners)
A local real estate investment company is back in buying mode, this time snagging an asset in the Lone Star State.
Lingerfelt CommonWealth Partners last week acquired 1700 West Loop – Burns & McDonnell Plaza, a 14-story office tower in Houston, for $52 million. The deal closed Wednesday, managing director Kenneth Strickler confirmed.
The 273,000-square-foot building is 81 percent leased with international engineering and architectural firm Burns & McDonnell using much of the space as its anchor tenant.
Commonwealth Commercial Partners, Lingerfelt’s property management affiliate, will manage the property.
The purchase is one of several deals the Henrico-based firm has made in the Southeast.
It acquired the dual-branded Hilton Garden Inn | Homewood Suites hotel in downtown Jacksonville, Florida in February for $24.7 million.
In December, Lingerfelt sold the 28-story, 441,000-square-foot Riverplace Tower in Jacksonville for $53.4 million and acquired two office towers in Greenville, South Carolina, that same month.
Last summer, it purchased the 10-story, 200,000-square-foot Stein Mart Building in Jacksonville for $26.62 million.
In Richmond, Lingerfelt has a sizable portfolio of offices around Innsbrook. The firm also is developing West Creek Medical Park in Goochland County, which is expanding to accommodate new tenants.
Lingerfelt acquired a 14-story office tower in Houston for $52 million. (Lingerfelt CommonWealth Partners)
A local real estate investment company is back in buying mode, this time snagging an asset in the Lone Star State.
Lingerfelt CommonWealth Partners last week acquired 1700 West Loop – Burns & McDonnell Plaza, a 14-story office tower in Houston, for $52 million. The deal closed Wednesday, managing director Kenneth Strickler confirmed.
The 273,000-square-foot building is 81 percent leased with international engineering and architectural firm Burns & McDonnell using much of the space as its anchor tenant.
Commonwealth Commercial Partners, Lingerfelt’s property management affiliate, will manage the property.
The purchase is one of several deals the Henrico-based firm has made in the Southeast.
It acquired the dual-branded Hilton Garden Inn | Homewood Suites hotel in downtown Jacksonville, Florida in February for $24.7 million.
In December, Lingerfelt sold the 28-story, 441,000-square-foot Riverplace Tower in Jacksonville for $53.4 million and acquired two office towers in Greenville, South Carolina, that same month.
Last summer, it purchased the 10-story, 200,000-square-foot Stein Mart Building in Jacksonville for $26.62 million.
In Richmond, Lingerfelt has a sizable portfolio of offices around Innsbrook. The firm also is developing West Creek Medical Park in Goochland County, which is expanding to accommodate new tenants.