A Houston office tower near Greenway Plaza has been sold again, less than two years after a multimillion-dollar renovation.
HOUSTON — Less than two years after being acquired by an investment firm that poured millions into a renovation project, an office tower near Greenway Plaza has been sold again.
JLL Capital Markets said it secured fixed-rate acquisition financing from an unnamed insurance company on behalf of Houston-based DML Capital for 3555 Timmons Lane, a 227,064-square-foot office tower in the Greenway-Upper Kirby submarket.
The JLL Capital Markets team was led by Managing Director Michael Johnson and Director Michael King and was supported by analysts Scot Sarlin and James Lovell.
While the terms of DML Capital’s deal for 3555 Timmons were not disclosed, Harris Central Appraisal District records said that the building had an appraised value for tax purposes of $19.9 million as of Jan. 1.
The property was previously owned by Dallas-based Novel Office, which purchased it in December 2023 and promptly spent at least $1.4 million on improvements to the 15-story building.
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