Commercial Real Estate Transaction in Bellaire
5909/5959 Realty Ltd., a partnership led by Braun Enterprises, has purchased two Bellaire office buildings totaling 152,000 sf from The Matrix Group.
The buildings at 5909 and 5959 West Loop South are 96 percent leased with leases averaging 1,100 sf.
The buyer assumed a loan that has a high prepayment penalty and three years left on its term and brought 45 percent equity to the table.
Hopefully the new owners will do some updating/upgrading to the buildings that boast a great location but look quite dated on the exterior.