Level X Group Enters Houston With 165 KSF Buy

2100 W. Loop S.

Level X Group has entered the Houston market with the purchase of a 165,399-square-foot office building in Uptown District. A legal entity linked to Elite Street Capital sold the property at 2100 W. Loop S. for an undisclosed price, according to Harris County records.

Public records also show Farmers & Merchants Bank provided Level X with an $11 million acquisition loan. The bridge financing has a maturity date set for September 2024. The property previously changed hands in 2017, according to CommercialEdge data.

The 16-story building dates back to the 1970s and features 10,500-square-foot floorplates, four passenger elevators, 579 parking spots and first-floor retail space. The property offers direct access to floors one through four from the parking garage.

Part of the Galleria submarket, the 1.3-acre site is located between Westheimer Road and San Felipe Street, across Interstate 610 and close to Interstate 69. The office asset is 1 mile away from The Galleria, the state’s biggest shopping center, and roughly 10 miles away from downtown Houston.

Level X Group Partner Jamail Virani was the leader of the acquisition, according to the Houston Business Journal. Lee & Associates Principals Robert LaCoure and Jill Nesloney, Co-Managing Principal Chris Lewis and Associate Bryce Adams will be in charge of leasing and will also provide property management services.

A value-add investment

The new ownership’s capital improvement plan includes upgrades to the lobby and conference room, as well as the addition of a tenant lounge, fitness center and game room—all scheduled to be implemented next year, according to LaCoure. The building’s current tenant roster includes Layton Energy, Ocean Flow International, Dahill Office Technology Corp. and Premier Performance Physical Therapy.

More than 13.4 million square feet of office space have changed hands in the Houston metro year-to-date as of October, CommercialEdge data shows. Transactions included Hines Global Income Trust’s $145 million purchase of a 206,000-square-foot asset, as well as Office Properties Income Trust’s sale of a 206,400-square-foot building comprising the Men’s Wearhouse corporate headquarters.