2200 West Loop South
2200 West Loop South, Houston, TX 77027
The 2200 West Loop South property is a 196,217 square foot 11-story Class-A office building located in the West Loop/Galleria Submarket of Houston. The property underwent an $8.4 million renovation in 2000. Part of the renovation included the addition of a four-level parking structure giving the building a 4.0/1,000 square foot parking ratio. This ratio provides the property a competitive advantage over comparable Class-A buildings in the West Loop/Galleria Submarket.
The property is centrally located, within the Uptown/Galleria submarket which contains 31.9 million square feet of inventory. The property is currently 98.7% leased to 12 tenants with two credit tenants as anchors: Tenaris (68,868 sf) and Morgan Stanley (55,942 sf). With less than 6%of the leased space coming due in the first three years, the property offers a stable cash flowstream, while inplace rents, offer upside potential as leases mature.
Investment at a Glance
Location: Houston, TX
Property Type: Class A Office
Acquisition Date: September 5, 2007
Purchase Price: $35,100,000
No. of Buildings: 1
No. of Stories: 11 (inc. lower level)
Square Footage: 196,217 SF
Year Built: 1974/2000
Leased Percentage (at the time of Acquisition): 99%