Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Key Facts

Year Built 1927
Building Area
Occupancy 66.0 %

Property Description

The property currently 52% leased consists of 599,107 square feet on 1.447 acres. The current ownership has invested over $14.5 million of non-leasing capital which has generated significant leasing momentum. At 52.3% leased and in-place rents well below market, Esperson offers investors a compelling value add opportunity at a price that represents a fraction of replacement cost.

Investment Highlights

  • Esperson consists of two interconnected office buildings comprising the Italian Renaissance influenced Niels Esperson
  • Building built in 1927 and the art deco style Mellie Esperson Building built in 1941 that contain almost 600,000 sq. ft. Including
  • the attached garage, they occupy a full city block in the geographic center of downtown and stand as the most iconic and
  • significant historical buildings in Houston’s Central Business District.
Last Updated Date: 03 Apr 2020
Dan Miller
Dan Miller
Senior Managing Director, Capital Markets
License details
TX-0289851
Martin Hogan
Martin Hogan
Senior Director, Capital Markets
License details
TX-0538781
Last Updated Date: 03 Apr 2020

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