1700 Loop Houston, TX 77027

Property Details for 1700 Loop

Year built

1972

Lot size

1.57 lot acres

Property size

273,163 SF

Property type

Office Properties & Spaces

Description

This exceptional Class A office tower, totaling 273,163 square feet, boasts a 94% occupancy rate and is situated in Houston's prestigious Galleria submarket. The 14-story building, constructed in 1972 and extensively renovated in 2017 and 2021, sits on a 1.57-acre lot and offers ample parking (913 spaces per 1,000 sq ft). The property features a multi-tenant environment anchored by a major engineering firm with a substantial lease term remaining (7.2 years). This tenant, a top-ranked national firm, occupies a significant portion of the building. The building's location provides convenient access to major transportation routes and is within walking distance of numerous restaurants, Uptown Park, and a large hotel currently undergoing renovations. Its proximity to affluent residential neighborhoods like River Oaks, the Memorial Villages, and Tanglewood further enhances its desirability. The Galleria submarket itself offers a wealth of amenities, including over 24,000 apartments, more than 9,000 hotel rooms, and 6 million square feet of retail space, much of it within easy walking distance. This investment presents a compelling opportunity due to its strong cash flow, stable tenant base, and prime location in a thriving Houston submarket. The property's durable cash flow and attractive contractual yield make it an ideal addition to any portfolio.