Houston: 121,000-SF 2950 and 3030 South Gessner sold

HOUSTON – A renovated, two-building office property, 2950 and 3030 South Gessner, has been sold. The two adjacent facilities total 121,700 sf and are 80 percent occupied.

Located just south of Westheimer Rd. and one mile east of Beltway 8, the buildings are convenient to the Westpark Tollway and US 59. The property features an above-market parking ratio, covered parking and several speculative suites, which have significantly increased leasing activity.

The offices are anchored by ITT Educational Services Inc. which has been a tenant since 1994. Other tenants include CVS Pharmacy and the offices of several healthcare providers.

InSite Realty Partners acquired the asset from a joint venture of Peloton Capital Partners and Pennybacker Capital.