A 10-story office building in Tanglewood just changed hands.
An affiliate of Fuller Realty Interests bought the 124,000-square-foot 2000 Bering building, at 2000 Bering Drive, on the western side of the city, the Houston Business Journal reported. Greystone Servicing sold the property to Fuller. The price wasn’t disclosed, but the Harris County Appraisal District valued it at over $16 million in 2022.
Dan Miller and Stephen Ghedi of Moody Rambin represented the seller and marketed the property, which is 25 percent occupied. Fuller’s own Steve Darnall and Johnny Kight represented the firm in the deal.
Fuller will market the remaining space to tenants in need of small spaces, ranging from 2,000 to 15,000 square feet. The firm also plans to offer tenants the opportunity to invest in the building.
“Fuller can be flexible with tenants’ current lease obligations at other properties, but the opportunity to invest will have a finite window of time,” the company said in a release.
Renovation plans include upgrades to the building’s systems and an overhaul of the former deli in the building’s garage.
The area near Bering, Augusta and Fountain View streets has been experiencing roadblocks and traffic headaches due to an ongoing city-led sanitary sewer project. The project is expected to be completed in the first quarter of this year, putting an end to most of those woes.
Houston-based Fuller owns more than 5 million square feet of office and light industrial space. It recently bought the five-building Network Crossing office park in San Antonio, the company’s fourth in that area last year.
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— Victoria Pruitt