Houston’s 525,000-SF Southwest Corporate sold

HOUSTON – Omninet Capital has purchased the 525,580-sf Southwest Corporate Center, a two-story office complex. The property sits on 40 acres at 9700 Bissonnet, close to US 59 and Beltway 8.

Southwest Corporate Center formerly housed Westwood Mall in southwest Houston before being converted to office space in 2000. It was expanded in 2007 with a second phase that added a 175,000-sf building.

The property is 61.9 percent leased to tenants including Stewart Lending Services, Texas Children’s Health Plan and Corinthian College.

“Due to the current opportunities in the Texas markets, Omninet has decided to allocate an additional $250 million in Texas in the next 12 months,” Michael Daniel, a partner with Omninet, said.

The Los Angeles-based private real estate investment firm purchased the property in a cash deal that closed in less than 20 days.