Paragon Center I

Description:

Class A Value-Add Office Investment Opportunity




Property Overview

Colliers International is pleased to present 450 Gears Road, a 180,030 SF Class A office building offering a compelling value-add investment opportunity in Houston’s Greenspoint submarket. Positioned at the intersection of Interstate 45 and Sam Houston Parkway (Beltway 8), the property offers exceptional regional access just 12 miles from Downtown Houston and 8 miles from George Bush Intercontinental Airport (IAH).

Distinguished by its striking architecture, the building features an interlocking-octagon design with a custom vermilion granite and bronze reflective glass façade, complemented by an open-air arcade and landscaped granite plaza connecting to an adjacent four-level parking garage, a rare combination of design pedigree and functional parking ratio in the North Belt/Greenspoint market.

With current vacancy creating a below-market basis, 450 Gears Road presents a strong opportunity for an experienced investor to execute a lease-up and repositioning strategy, capturing upside as the North Belt/Greenspoint office market continues to stabilize. The offering is well suited to a value-add buyer seeking significant basis discount to replacement cost in a well-located, architecturally distinctive asset.




Property Highlights

CALL FOR PRICING
• 180,030 SF Class A office building I Land Size: ±4.51 AC (±196,586 SF)
• Located in Greens Crossing at I-45 & Beltway 8
• 12 miles to Downtown Houston | 8 miles to IAH
• Distinctive interlocking-octagon architecture
• Vermilion granite & bronze reflective glass exterior
• Adjacent 4-level parking garage
• Open-air arcade and granite plaza
• Significant value-add / lease-up opportunity
• Priced to reflect vacancy and repositioning upside
• Parking ratio of 2.78 / 1,000 in structured garage
• On-site management
• Building card key access and Fiber optic ready

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