HOUSTON - The 230,872-sf 400 North Belt Building has been sold for $10.15 million.
The 12-story Belt Building is at the southeast corner of Sam Houston Parkway/Beltway 8 and Imperial Valley Dr.
Built in 1982, 400 North Belt is located in the heart of Houston’s Greenspoint office submarket with close proximity to George Bush Intercontinental Airport (IAH) and has superior ingress/egress that is equidistant between the Houston CBD and the Woodlands.
The North Belt Building was 64 percent occupied by 12 tenants as of May 2015.
National Oilwell Varco LP occupies approximately 22.5 percent of the property and Marine Well Containment Company occupies approximately 10.7 percent.
The top five tenants occupy approximately 56 percent of the property and comprise approximately 94 percent of the current annual base rent.
An affiliate of Hartman Short Term Income Properties XX Inc. purchased the property.
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