Real Estate
Home›Real Estate›Commercial›Cross Ocean and Fuller Realty buy 829K SF Houston offi…
Cross Ocean and Fuller Realty buy 829K SF Houston office campus
The three-building, Class-A Energy Corridor property is 94% occupied and includes a fully leased 308K SF building for Fluor.
Cross Ocean Partners and Houston-based Fuller Realty have acquired Eldridge Place, a three-building, Class-A office campus in the Energy Corridor, totaling 829,000 square feet. The property sits at 737, 757 and 777 N. Eldridge Parkway near Memorial Drive, according to a press release cited by Bisnow.
Bisnow reports the campus is 94% occupied, with tenants including Fluor Corp., SM Energy, Pemex Procurement International and BakerRisk. JLL’s Houston investment sales and advisory team represented the seller, Granite Properties.
The buildings were repaired after Hurricane Harvey before Granite bought them for $78.4 million in 2019. Since then, the campus has seen more than $20 million in capital improvements, and features amenities including a fitness center, pickleball courts, a deli and a conference facility.
Cross Ocean said in a statement that the acquisition aligns with its focus on high-quality office assets with in-place cash flow, particularly in markets with durable tenant demand. Cross Ocean, which manages more than $12 billion in assets, said it would partner with Fuller Realty, an operating partner and third-party manager with about $1 billion under management.