Description de l'actif
JLL Capital Markets, as exclusive advisor, is pleased to present the opportunity to purchase Sage Plaza (the “Property”), a modernized, Class A office tower within the Galleria/Uptown submarket of Houston, Texas. The 25-story, LEED Gold tower measures 530,977 rentable square feet and is currently 63.6% leased to a diverse collection of tenants for 6.6 years of remaining lease term.
Sage Plaza is located near the main-and-main intersection of the Galleria submarket, San Felipe and Post Oak Blvd., and enjoys enhanced walkability coupled with superior access to Houston's employee base due to the Property's proximity to major thoroughfares, surrounding high-density luxury multifamily, and an affluent residential base in Tanglewood and River Oaks. At 64% leased with 6.5 years of WALT, Sage Plaza provides investors stable in-place cash flow at a significant discount to replacement cost, while offering tremendous upside potential through the lease-up of vacant space. Sage Plaza has experienced outstanding leasing velocity in the last 12 months, in part due to over $8 million of capital investment since 2015 dedicated to modernizing the Property and enhancing the work-from-work experience and the Property's bullseye location within the Galleria submarket.
Sage Plaza is equipped with market leading on-site amenities including a state-of-the-art fitness center, a brand new hotel-style lobby, upscale tenant lounge, full scale coffee bar, outdoor seating lounge, 85-person auditorium style conference room, and more. The Property's expansive amenity base is further enhanced by the superior walkability of Sage Plaza within the Galleria.
Sage Plaza represents a unique opportunity to acquire an institutional-quality, Class-A value-add asset with robust contractual cash flow in Houston's preferred infill submarket at an extremely attractive basis.
Caractéristiques de l'actif
Points clés d'investissement
- Institutional Quality Asset
- In-Place Cash Flow
- Dominate Corporate Hub
- Recent Leasing Activity
- World Class Amenities