KBS recently sold Ten West Corporate Center, a fully leased four-story 199,001-square-foot class-A office building in Houston’s Energy Corridor. The property was purchased by a JV between Ellingstone Group and an overseas institutional investor for an undisclosed purchase price.

Houston is home to the headquarters of 24 Fortune 500 companies, is one of the largest MSAs in the country and deemed the “energy capital of the world”. This made the city an attractive option in which to invest when KBS originally bought the property in 2006, according to Gio Cordoves, Western regional president for KBS.

“The Energy Corridor, known as the Central Business District of West Houston, is the third-largest employment center in Houston,” says Cordoves. “Given the lengthy lease term commitment at Ten West Corporate Center, we know the buyer will enjoy this cash flow positive property for years to come.”

Built to the highest institutional standards, the building is leased to a British multinational engineering and consulting firm.

“Ten West Corporate Center has been fully occupied by an excellent tenant with great credit during our lengthy hold,” says Brett Merz, asset manager for Ten West Corporate Center and senior vice president for KBS. “Fully occupied assets like Ten West Corporate Center can provide investors with strong cash flow and performance.”

Built in 1998, the property is located along Katy Freeway (I-10) at the Barker Cypress intersection within the Katy Freeway/Energy Corridor submarket. Ten West Corporate Center is situated within the Park Ten office park, a 500-acre master-planned business park that is the epicenter of the Energy Corridor submarket.

Kevin McConn and Marty Hogan of JLL represented KBS in the sale of Ten West Corporate Center.