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North Houston Greenspoint Place going to highest bidder North Houston Greenspoint Place going to highest bidder https://www.recenter.tamu.edu/news/newstalk-texas/?Item=135462016-06-20T05:00:00Z2016-06-20T19:00:00Z

​​HOUSTON - ​An office building in north Houston is getting auctioned off as its main tenant leaves.

​​Exxon Mobil Corp.​​ is leaving Greenspoint Place, a six-building, 36-acre office complex. 

That dropped the property's occupancy below 40 percent, Houston-based Hines told the Houston Business Journal

In June 2015, the occupancy rate at Greenspoint was about 75 percent and expected to drop.

The Greenspoint/IAH/North Belt submarket had seen an 8.2 percent decline year over year in occupancy.

"Considering the average occupancy rate in this depressed submarket is only about 50 percent, due largely to the fact the energy market is hurting, ownership of the asset will be turned over to the lender," Hines said in an emailed statement. 

The property is planned to be auctioned in a foreclosure sale July 5.​
Houston Business Journal
Houston-The Woodlands-Sugar Land
Office
http://www.bizjournals.com/houston/morning_call/2016/06/north-houston-office-complex-to-get-auctioned-off.html

​​See Houston Office Research for updated quarterly reports, DFW Office Research​, Austin Office Research, and San Antonio Office Research.

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