On behalf of Davis Holdings, L.P., JLL today announced the oil and gas, real estate investment company has purchased a 100-percent leased, 33,000-square-foot office building at 1500 McGowen Street in Houston, Texas.

JLL’s Louis Rosenthal negotiated the terms on behalf of Davis Holdings. David Husid and Brandi McDonald of Newmark Grubb Knight Frank represented the seller, Skyland Lodge Tract, L.P.

“Davis Holdings was attracted to the property’s accessible location, proximity to downtown and adequate parking,” said Rosenthal. “Fully renovated and located in Midtown’s growth path, the building should prove to be a great investment for the firm.”

1500 McGowen is a two-story, Class B office building located at the corner of La Branch and McGowen Streets in Houston’s Midtown submarket. The property’s location provides convenient access to Houston’s Central Business District, U.S. Highway 59 and the city’s METRORail train system. Originally built in 1972 and renovated in 2002, the property features loft-style office space with modern building systems.

With just 4.1 million square feet of Class A and B office space, Midtown is one of Houston’s smallest office submarkets. Its niche location, however, helped the submarket perform well throughout 2016, closing the year with 2.1 percent positive net absorption.

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