Radler Enterprises Buys Houston Office Asset

Radler Enterprises Inc. has purchased Legacy at Fallbrook, a 207,029-square-foot Class A office building within Houston’s Cypress West submarket. JLL negotiated on behalf of the seller.

CommercialEdge shows that EQT Exeter was the seller, which has owned and operated the property since its 2017 purchase from Liberty Property Trust.

Legacy at Fallbrook rises five stories at 10720 W. Sam Houston Parkway North. The LEED Gold-certified asset is currently 96 percent leased by tenants such as Intermodal Tank Transport, M/I Homes, Asurion and Stewart Title Co.

Completed in 2015, the building offers amenities such as a conference facilities, a fitness center and a full-service deli, as well as 1,034 parking spots. The 20-acre property is 14 miles from George Bush Intercontinental Airport and 21 miles from downtown Houston.

Additionally, Legacy at Fallbrook includes an approximately 13-acre lot for future office or industrial expansion or development, while being close to U.S. Route 290, Texas State Highway 240, Interstate 10 and to Beltway 8.

Managing Directors Kevin McConn and Marty Hogan with JLL represented the seller in the transaction.

Houston’s latest office deals

Year-to-date through November, Houston’s office investment volume reached $940 million, with office assets changing hands at an average sale price of $107 per square foot, a recent CommercialEdge report shows. On a national level, the market placed 12th in the top 25 U.S. office markets.

Recent office deals in Houston include Capital Commercial Investments Inc.’s purchase of a 327,404-square-foot building in the Energy Corridor area. Invesco Real Estate sold the property, while JLL brokered the deal. During the same period, the brokerage represented BGO in the sale of a three-building office complex in northwest Houston. The buyer of the nearly 400,000-square-foot property was Interra Capital Group.