HILCO REAL ESTATE SALES ANNOUNCES BANKRUPTCY SALE OF TWENTYFOUR25 OFFICE BUILDING IN HOUSTON, TEXAS (GALLERIA)

The site, located at 2425 West Loop South, includes an eleven-story building located in the heart of that of Houston first shopping and culinary center, the Galleria. Sitting on 2.45±AC, the building totals 284,896±SF with a net of 26,500SF±SF per floor. The property has undergone significant improvements, including state-of-the-art health and wellness amenities for tenants, as well as a recently added conference room and tenant lounge on the ground floor. TwentyFour25 is just a few blocks from the Galleria Mall, the largest shopping center in Texas, providing significant value to office tenants and developers. The turnkey building is ready to welcome new tenants or to be reinvented by a developer with a vision of its future potential.

TwentyFour25 has major reuse or redevelopment potential as it is located in the Uptown neighborhood of Houston. This site offers remarkable convenience and benefits since it is located at the intersection of Westheimer and 610N, one of the busiest in Houstonas well as close to the high-end shopping center, River oaks District. The building features premium amenities including an on-site café, six elevators, large windows offering panoramic views of the Houston skyline, 24-hour secure key card access, state-of-the-art fitness center, recent building renovations, spacious lobby with 11-story open-air atrium, multi-level parking, and CAT 6 data cabling throughout the property . Architecturally significant, this iconic building is the brainchild of world-renowned visionary IM Pei. Known for his creative use of modernist architecture in combination with natural elements and open spaces, IM Pei is famous for his landmark designs such as the Louvre Pyramid in Paristhe Bank of China Tower Hong Kongthe JFK library BostonHerbert F. Johnson Art Museum in Cornell UniversityMuseum of Islamic Arts in Doha, Qatarthe Ronald Reagan Building and the International Trade Center in Washington, D.C.the first international bank Israel In Tel Aviv, University Place in new YorkThe monument of Irvine, Californiaand the NASCAR Hall of Fame at North Carolina. TwentyFour25 is a testament to his legacy.

The property is nestled in Uptown, more commonly known as the Galleria, which has become one of that of Houston premier shopping destinations and cultural hubs. Located just six miles west of downtown, Uptown is the 17th largest business district in the country. United States. Boasting over 400 stores including luxury boutiques like Louis Vuitton and Tiffany & Co., as well as popular retailers like Apple and H&M, the Galleria offers something for every taste and budget. Beyond shopping, visitors can enjoy a wide range of dining options, from upscale restaurants to casual restaurants, serving cuisines from around the world. The Galleria also houses entertainment venues such as an ice rink and a state-of-the-art movie theater. With its convenient location and upbeat atmosphere, the Houston Galleria neighborhood continues to captivate locals and tourists alike, embodying the spirit of Texas hospitality and lifestyle. The district is also home to approximately 2,000 businesses and represents more than 11 percent of the that of Houston total office space. Located directly off South Highway Loop and Westheimer Road, the property is near major corporate headquarters such as Quanta Services, Westlake Chemical, Enbridge Inc., Woodside Energy, Landry’s Inc., PNC Bank and APA Corporation.

Ben ZaslavManaging Director of Business Development at Hilco Real Estate Sales, said, “Considering that Houston is the second fastest growing metropolitan area in the United States and the Galleria is the ‘perfect location’ within Houston, the sale of TwentyFour25 represents a rare opportunity for investors and developers to claim their place at the epicenter of growth and commerce within our country. Add to that the certainty and efficiency of bankruptcy, and you have an investment opportunity unrivaled anywhere else in the Sun Belt. »

Steve Madurasenior vice president of Hilco Real Estate Sales, said: “While it’s no secret that the post-COVID office market has been challenging, this building is a blank canvas for savvy investors looking to find opportunities in this dynamic Galleria neighborhood. this multi-tenant property or completely reinventing its highest and best use, this famous building has all the makings of an investment with enormous, untapped upside potential.

The sale of TwentyFour25 is made by order of the United States Bankruptcy Court, Southern District of Texas, Houston Division, Petition No. 23-34815. Offers must be received no later than the closing date of June 14 has 5:00 p.m. (CT) and must be submitted on the Letter of Intent (LOI) document available for review and download on the Hilco Real Estate Sale website. The sale confirmation hearing is expected to take place on July 8 has 9:00 a.m. (Pacific Time) approve the winning bidder.

Interested bidders should review the requirements in order to participate in the bankruptcy sale process available at Hilco Real Estate Sale website. For more information, please contact Steve Madura at (847) 504-2478 or (email protected) Or Michael Kneifel at (847) 201-2322 or (email protected).

For more information about the property, sales process and terms or to obtain access to due diligence documents, please visit HilcoRealEstateSales.com or call (855) 755-2300.

About Hilco Real Estate Sales
Successfully positioning real estate within a company’s portfolio is an important part of establishing and maintaining a strong financial foundation for long-term success. At Hilco Real Estate Sales (HRE), a Hilco Global company (HilcoGlobal.com), we advise and execute strategies to help clients seeking to optimize their real estate assets, improve their cash flow, maximize the value of their assets and minimize liabilities and portfolio risks. We help our clients navigate complex transactions and transitions, coordinating with internal and external networks and constituents to navigate increasingly challenging market environments.

The trusted, full-service HRE team has secured billions in value for hundreds of clients over 20 years. We are deeply experienced in complex transactions, including artful lease renegotiation, multi-faceted sales structures, strategic asset management and capital optimization. We understand the legal, financial and real estate components of the process, all of which are essential to a successful outcome. HRE can help identify the most viable options and directions for a business and its real estate portfolio, producing impressive results in every situation.

SOURCE Hilco Real Estate