Bellaire Park features two Class A office buildings located in Bellaire, an affluent suburb of Houston, Texas, which has a significant residential household base.
The property is located near major thoroughfares and public transportation nodes, and enjoys good accessibility to the Houston CBD. Its proximity to Texas Medical Center, Houston’s largest employment centre outside of the CBD, has contributed to its high concentration of tenants from the healthcare and professional services sector. In 2013 and 2014, the buildings underwent significant refurbishments resulting in remodelled entrances, a covered patient drop-off area for the building with significant medical tenancy, modern elevators, as well as improved chillers and cooling towers. One of its office buildings is a recipient of the US Environmental Protection Agency’s prestigious ENERGY STAR® label.
(1) Refers to average submarket office rent.
Source: CoStar Office Report, July 2020.