Velocis Sells Two-Bldg. Office Complex in Houston’s Hedwig Village
Velocis, a private equity real estate manager out of Dallas, has sold the Echo Lane office complex in Houston’s Hedwig Village to 800 Builders. Terms of the deal were not disclosed.
Velocis paid $30 million back in 2012 to acquire the 189,162-square-foot, two-building complex at 950 and 952 Echo Lane. In the five years since acquiring the property, Velocis was able to raise occupancy from 83 percent to 97 percent and increased rental rates with…
