JLL Capital Markets, on behalf of ownership, is pleased to present the opportunity to acquire a 100% fee simple interest in 3411 Richmond (“the Property”) an 82,692 square foot office property located in the Greenway Plaza submarket in Houston, TX.
The Property is currently 89% leased and owned by DMC builders, who currently occupies approximately 40% of the building. Upon sale, DMC Builders will enter a short-term (1-2 year) lease back of their space at market rates. 3411 Richmond offers investors a strategic value-add investment that has been well maintained in a highly walkable location via the lease-up of the vacant space.
3411 Richmond is a unique opportunity to purchase a cash flowing office building significantly below replacement cost in the Greenway Plaza submarket. With the new RO development underway, the Property presents compelling value for both owner-occupiers seeking premium amenities and investors targeting strong returns generated by recent increased leasing demand.