Colliers is pleased to announce the finalized sale of a ±147,135 square foot office building on 3.12 acres in the North Houston District located at 16666 Northchase Drive in Houston, Texas. Formation Capital purchased the property. The seller, Geosam Capital, was represented by David Carter of Colliers in the transaction.
16666 Northchase Drive is located in the North Houston District of Houston near the intersection of Interstate 45 and North Sam Houston Parkway. The building was built in 1985 and is in excellent condition with ample parking.
The property is located within the North Belt/Greenspoint office submarket, which contains 12.2 million square feet of office space that is currently 59.2% occupied. The submarket recorded 313,266 square feet of leasing activity year-to-date and offers an averaged gross rental rate of $17.86 per square foot.
About Colliers International Group Inc.
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 66 countries, our 18,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 28 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of 20% for shareholders. With annual revenues of $4.5 billion and $98 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
