February 22, 2017
The 206,553-square-foot Northborough Tower, in Houston’s North submarket, has traded to an undisclosed buyer. The asset at 100 Glenborough once housed Noble Energy, but was vacant at the time of sale. Transwestern’s Leah Gallagher, Michelle Wogan and Hale Umstattd represented the seller, which public records list as special servicer C-III Capital Partners of Irving, TX.
Noble Energy vacated the building at 100 Glenborough Dr. in Q3 2015; its lease expires in April, 2018. The previous owner, Behringer Harvard Opportunity REIT I Inc., acquired the 1980s asset in 2007 for $32.9 million. The building was returned to lender LB-UBS Mortgage Trust 2006-CE as a deed in lieu of foreclosure.
The sales price on the recent transaction was undisclosed, with the Harris Central Appraisal District valuing it at $11.6 million.
For comments, questions or concerns, please contact Amy Sorter
For advertising information, please contact Joni Margotta