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Property Detail

North Freeway
Colliers is pleased to exclusively present for sale to qualified investors the opportunity .
$2,500,000

Description

Colliers is pleased to exclusively present for sale to qualified investors the opportunity to acquire 100% fee simple interest in 12941 North Freeway, the Wells Fargo Tower. This striking eight-story, ±173,908-square-foot, Class B suburban office includes an adjacent two-level parking garage. Investors can leverage this value-add tower's prime location just off Interstate 45 to break into the Greenspoint commercial hub of North Houston, Texas. Delivered with approximately 82% occupancy, there is in substantial income in place, as well as a significant upside to lease the remaining vacancy and capture rising submarket rents, up 1.5% annually.

12941 North Freeway includes modern features that make it an ideal setting for the area’s many sizable office tenants. Built in 1982 and fully renovated in 2022, the tower provides a grand three-level atrium lobby, large wall-to-wall windows, and three high-speed passenger elevators with glass accents. The building’s large floor plates and versatile layout make it an ideal option for attracting large and small tenants. The spacious, professionally landscaped 4.42-acre lot includes abundant parking. With 45 surface spaces and 571 covered spaces in the adjacent parking garage, the property offers a combined parking ratio of 3.71/1000.

The asset is located at the southwest corner of Interstate 45 and Meadowfern Drive, near the Interstate 45 and Beltway 8 interchange. These major arterials deliver direct visibility to more than 300,000 passing vehicles daily, establishing the property as a well-known fixture for the area’s commuting professionals. Interstate 45 allows tenants to reach downtown Houston in less than 20 minutes, granting convenient access to quality urban amenities. Longer distance travel is made easy by the George Bush Intercontinental Airport, which is reachable in approximately 15 minutes.

Greenspoint hosts many large office and industrial tenants, supported by a high concentration of nearby national retailers, major flag hotels, and quality residential neighborhoods. Within minutes of the property sit vital operations for Amazon, FedEx, Sysco, Frito-Lay, and many more. Just across Interstate 45 sits the former Greenspoint Mall. Officially closed in 2024, numerous plans are now in motion for reimagining and revitalizing the property. The first such project, the Summit at Renaissance Park, has already broken ground, intending to bring 325 new apartment units to professionals in the area. These exciting new developments deliver continued growth and interest to the Greenspoint neighborhood.

Join one of North Houston’s most exciting commercial hubs with the renovated suburban office tower just off Interstate 45 at 12941 North Freeway.

Stabilized Suburban Office

Listing ID : 00544

SKU: 544

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Price History

DateEventPrice
December 2 2024Listed$2,500,000.00