SOLD
Two Westlake Park
580 Westlake Park Blvd, Houston, TX 77079
Property Overview
Westlake Park, and Two Westlake in particular, have long been considered some of the best assets in the Energy Corridor – one of Houston’s top office submarkets.
Riding the strength of the submarket and the greater Houston economy, KBS REIT II addressed significant near term roll by renewing Conoco Phillips and BP (British Petroleum) – the major tenants of Two Westlake – while additionally expanding their premises and converting their leases to a landlord and investment sale friendly NNN basis. Further, KBS REIT II converted non-revenue generating dining club space located atop the parking garage into some 67,000 square feet of Class A office space which was leased to BP to meet their expansion needs. Additionally, over its hold, KBS REIT II maintained an average occupancy of over 99% at Two Westlake Park.
$80,500,000
Total Purchase Price
455,476
square feet
Total Rentable Area
Class A
Building Class
