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Once-In-a-Lifetime Opportunity For An Owner/Occupier at CityNorth

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·3 min read
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Entire Class A, LEED-Certified Building Now Available For Purchase in North Houston’s Premier Corporate Campus

Looking to relocate your headquarters or consolidate operations? Interested in the short and long-term financial/tax benefits of purchasing property in an Opportunity Zone? Then look no further than CityNorth 1 – a key anchor of the Class A CityNorth corporate campus in North Houston. This LEED Silver Certified office building offers 253,562 SF and is now for sale for $25,352,600 – that’s just $100 per SF.

"If you wanted to construct a new building of this size and with its features from the ground-up, you’d be looking at a replacement cost of $300 - $350 per square foot," says Keith Lloyd of Marcus & Millichap, who is marketing the property. "It’s an unbeatable value in today’s market."

CityNorth 1 offers the latest in communications technology and connectivity, with 24 Strand, high-speed fiber lines with a direct connection to the I-45 trunk line, the largest and fastest in the state. Power is dual fed from CenterPoint (Circuits 41 & 43). The vacant, energy-efficient building is now ready for an owner/operator’s design and buildout.

"CityNorth 1 has great bones and a lot of potential to change out finishes and do upgrades," adds Lloyd. "With businesses returning to office spaces, this is a rare opportunity to create the environment that suits your employees best."

An Investment in Well-Being

The CityNorth campus is both spacious and secure, with 2.1 MM square feet of office and retail space spread among 36 acres of landscaped grounds. CityNorth 1 has access to:

  • 24/7 manned security officers covering the entire campus. All garages are gated card access control, and all buildings have card access control

  • Newly designed outdoor spaces include nearly 80,000 square feet of ground-level retail, including eight restaurants and a Starbucks

  • Amenity-rich 10,000 square foot Conference Center with flexible meeting room sizes and Wi-Fi

  • 7,000 square foot Fitness Center with free weights, cardio machines, fully stocked locker rooms and towel service; basketball and racquetball courts

  • Tenant lounge that includes a putting green, three golf simulators, a pool table, big screen TVs, a ping pong table and an area for entertaining

The Most Convenient Location

Strategically located near the crossroads of I-45 North and Beltway 8 North, CityNorth is just minutes from George Bush IAH Airport, downtown Houston, The Galleria or The Woodlands. The proximity to major freeways in four directions provides employees a short commute.

For complete listing information, please visit https://www.marcusmillichap.com/properties/58637/citynorth-1.

About CityNorth

CityNorth is the dynamic, accessible address for an Owner/Occupier desiring a premier corporate campus environment in North Houston. CityNorth is owned, managed and leased by Lincoln Property Company. Lincoln Property Company, established in 1965, is one of the most respected and diversified service firms in the United States, with a growing client base that reaches coast-to-coast, as well as into Mexico and Europe. Visit www.lpchouston.com for more information.

About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors.

To learn more, please visit www.MarcusMillichap.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210401005014/en/

Contacts

Keith Lloyd, First Vice President Investments
Keith.Lloyd@marcusmillichap.com
work: (713) 452-4243 / mobile: (713) 927-4546

Michael Papadimitriou, Associate
Michael.Papadimitriou@marcusmillichap.com
work: (713) 452-4206 / mobile: (678) 333-5750