HOUSTON, TX – October 26, 2021 – Stream Realty Partners (Stream), a national real estate services, development, and investment company, announced today that it has been engaged by Broadshore Capital Partners, a real estate investment firm, to lease and manage Eldridge Oaks, a 14-story, 350,000 square foot office building located at 1080 Eldridge Parkway in Houston. An affiliate of Broadshore Capital Partners, through its Special Situations Debt Group, recently acquired the Class A office asset in the desirable Energy Corridor. Ownership has plans for a comprehensive renovation and spec suite program that will upgrade the space offering and add to the property’s on-site amenities.
Stream’s Senior Associate, Matthew Asvestas, said, “Eldridge Oaks is a premier Class A office property that is being repositioned to provide a compelling option in West Houston. Overall, the Energy Corridor currently sits at a 22.6 percent vacancy rate, while Class A Tier I properties in the submarket have a 13.8 percent vacancy rate. Tenants are eagerly looking to elevate their work environments and return to the office by relocating to premier properties. Broadshore’s low basis and commitment to modernizing the asset further will allow us to offer a fantastic product to tenants at great value.”
This LEED® Gold Certified property affords building and monument signage opportunities, with available suites ranging from 2,000 square feet to 310,000 square feet on an ultra-efficient, 26,000 square foot, rectangular floor plate. The anticipated renovations will include a conference/training facility, improved fitness center, outdoor patio space and enhanced connectivity to Terry Hershey Park; a 500-acre park featuring over 10 miles of hike and bike trails along Buffalo Bayou.
James Pomeranz, Senior Vice President at Broadshore Capital Partners, said “Eldrige Oaks is a quality property in a desirable location that will benefit from the program of improvements we are undertaking to enhance its appeal as a Tier I West Houston office destination. To support our repositioning of the property, we are partnering with Stream and its professional team to institute top-tier property management and leasing programs.”
Matthew Asvestas, Senior Vice President Brad Fricks, and Vice President Mathew Volz with Stream will lead the leasing efforts at Eldridge Oaks.