Houston’s Northborough Tower Under New Ownership
The office property is currently vacant, although it is 99 percent leased to Noble Energy until 2018.
By Anca Gagiuc
Northborough Tower, Houston
Houston—Austin Management Group of Houston announced it has acquired the 14-story Northborough Tower located at 100 Glenborough Drive in the Greenspoint area of Houston. According to Yardi Matrix data, the building was formerly owned by Behringer until U.S. Bank—REO foreclosed on it.
Leah Gallagher, Michelle Wogan and Hale Umstattd of Transwestern represented the seller. The financial details of the transaction were not disclosed.
The 206,556-square-foot Northborough Tower, currently vacant, was completed in 1983 and subjected to a cosmetic renovation in 1991. Suited for large users and smaller tenants alike, the property is 99 percent leased to Noble Energy until 2018. The asset provides 875 parking spaces and has been institutionally maintained with significant capital investments including elevator modernization, upgraded EMS system and ADA-compliant restrooms.
Image courtesy of Yardi Matrix
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