Property History
Property Type
Property Type
Marketing Description
The subject property, formally known as Empire Central Tower, is an office building located at 12700 Northborough Dr. in Houston, Texas. The Property is a class B office building constructed in 1981 and is currently vacant. The Property is approximately 118,905 square feet and includes 36+/- surface parking spaces in addition to the 424 parking count, attached garage. Empire Central Tower is situated on a large 3.6599+/- AC land parcel on the SE corner of Northborough Dr. and Meadowfern Dr. There are two points of access on Meadowfern Dr. and one located on Northborough Dr.
The Subject Property is located in north central Houston within the Greenspoint/N. Belt West submarket in Harris County. The neighborhood primarily consists of office buildings, with a mix of multi-housing, single family residential, and retail. The Class B Market is seeing an Average Asking Leasing Rate of $15.73/ SF Full Service. The Class B Office space for the market has a total inventory of 4,900,000 SF at a Vacancy Rate of 37.2%, equating to 1,800,000 SF.
The site is well located on the SE corner of Northborough Dr. and Meadowfern Dr. and within close proximity of the I-45 and Beltway 8 intersection that sees over 288,000 vehicles per day. The Property has undergone significant improvements, which should, along with its location, offer a competitive edge over the competing sites. In addition, due to the floor plan layout, the Property can offer availability to the smaller tenants looking for a traditional office building location.
The Subject Property is located in north central Houston within the Greenspoint/N. Belt West submarket in Harris County. The neighborhood primarily consists of office buildings, with a mix of multi-housing, single family residential, and retail. The Class B Market is seeing an Average Asking Leasing Rate of $15.73/ SF Full Service. The Class B Office space for the market has a total inventory of 4,900,000 SF at a Vacancy Rate of 37.2%, equating to 1,800,000 SF.
The site is well located on the SE corner of Northborough Dr. and Meadowfern Dr. and within close proximity of the I-45 and Beltway 8 intersection that sees over 288,000 vehicles per day. The Property has undergone significant improvements, which should, along with its location, offer a competitive edge over the competing sites. In addition, due to the floor plan layout, the Property can offer availability to the smaller tenants looking for a traditional office building location.
Investment Highlights
- Major improvements made on the property between 2014-2016, including new roof, HVAC system, elevators, front door, and bathrooms.
- Dense multi-family corridor, with 2018 population figures reaching 10,030 people within a 1-mile radius
- Close proximity to the major intersection of Beltway 8 and I-45 seeing approximately 288,000 VPD
- Approximately 47% of the 138,321 day time population work within a 3- mile radius.
- Covered garage parking with 1st and 2nd floor covered skywalk.
- Advantageous opportunity to fully lease building with market rents.
- Unique space configuration offers the office market smaller square footage options.
- Optimal visibility of building signage from I-45
- Rebranding of Greenspoint Place as City North by Lincoln Properties who is investing approximately
- $100,000,000 to revamp the campus into a mixed used office/retail development with a hotel.
- Set in a Tax Increment Re-invesment Zone that was created to attract new investment in the area
Loan History
Financial History
Tax History
Contact Information
These phone numbers and email addresses are checked against the litigator and TCPA lists. Report an error
Ownership Information
Property Details
There are no additional details for this property
Contacts
Listing removed on
BY:
Eva Horton
•••.•••.5188
•••rton@••••.com
Listing removed on
BY: Albert Spiers
•••.•••.0218
••••••.••iers@••••••••.com
Map
Comparable Properties
Does any data look off? Help us improve Crexi by offering your feedback!
