Lender Owned: Class B | Multi-Tenant Office Building
5.66 Acres at Major Intersection in Westchase District
Marketing description
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9990 Richmond is comprised of a North & South wing connected by a covered walkway. The property is currently 46% leased to a mixed group of tenants including Republic of Philippines Consulate General, Norris Conference Centers, Advance Geophysical, General Service Administration and DBR Engineering Consultants. Weighted average lease term is 53 months.
9990 Richmond is located in the Westchase District (Deed Restricted Municipal Management District) that is home to major employers: Bechtal, Apache, Phillips 66, Chevron, National Oilwell Varco, BMC Software and Jacobs Engineering.
The property benefits from having large floor plates that can accommodate both large and small users, building conference room, outdoor patio break out / collaboration area and structured parking with an exceptional 4.5/1,000 parking ratio.
Located on the northeast corner of Richmond Avenue and Briar Park Drive on 5.66 acres, this investment property, nestled in a strategic location, offers the unique potential to evolve into a redevelopment project, presenting a chance to capitalize on future market trends.
- Non-Contingent
- Earnest Money Deposit: Greater of $20,000 or 10% of the Purchase Price
- Marketing Fee: 3% of the Winning Bid Amount, $20,000 minimum
- $10,000 Participation Deposit Required
- Close of Escrow: June 7, 2024
9990 Richmond Ave, Houston, TX 77042
Investment highlights
- Four (4) story, Class B, single or multi-tenant office building constructed in 1981
- High visibility and direct access to Beltway 8
- Situated on ±5.66 acres with both surface parking and structured garage parking
- Parking ratio of 4.50/ 1,000
- Signage opportunities
- Excellent access to all major thoroughfares
- Located in the Westchase submarket, a preferred office hub due to the presence of heavy office and retail market
- Over 35,408 businesses within a 5-mile radius
Listing Contacts
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