HFF announces the sale of an office and retail complex totaling 195,853 square feet along West Alabama in Houston’s Galleria/Uptown District to Houston-based Braun Enterprises.

The HFF team represented the seller, WEDGE Properties Management Corporation, and procured the buyer.

The property is located at 5353 and 5373 West Alabama just west of the renowned Galleria shopping mall and within minutes of Interstate 10, Highway 59 and the 610 Loop. Additionally, the property is close to the residential neighborhoods of Tanglewood, Afton Oaks and River Oaks, where home values average more than $1 million. The Galleria/Uptown submarket has a daily population of more than 200,000 people and 30 million annual visitors, who are drawn to the area’s six million square feet of retail space, 100-plus restaurants, 7,800 hotel rooms and 32.2 million square feet of office space. The site is currently improved with two, six-story office buildings, a single-story retail building and a two-story parking garage and is currently 54 percent occupied.

Braun Enterprises, known for redeveloping inner-city retail and office projects, plans to extensively renovate the interior and exterior of the office buildings along with a complete redevelopment of the retail space. With over 35,000 square of retail space, the project lends itself well to being rebranded and redeveloped into a first-class retail project that will “amenitize” the office buildings above as well as neighboring properties. Braun Enterprises plans to utilize its retail expertise to elevate the tenant mix and is currently marketing the space for lease.

The HFF investment advisory team representing the seller was led by managing director Davis Adams and included senior managing director Wally Reid and managing director Kelly Layne.

Holliday GP Corp. is a Texas licensed real estate broker.

About Braun Enterprises

Braun Enterprises is a full-service commercial real estate company dedicated to building long-lasting relationships and contributing to the communities in which it develops. The company specializes in ground-up development, redevelopment, and repositioning of various types of well-located real estate throughout Texas. Braun Enterprises has purchased and redeveloped approximately 3,500,000 square feet of commercial real estate projects, and has successfully repositioned and stabilized all of them.

About HFF

HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.