LaSalle Investment Management has recapitalised an equity stake in CityWest, a four-building, approximately 1.5m sqft office campus in Houston, Texas, in a joint venture alongside private real estate investment firm 3Edgewood.
Located at 2101-2107 CityWest Boulevard on approximately 39 acres in West Houston, CityWest is a corporate campus located near the intersection of Interstate 10 and Beltway 8, one of the region’s key employment and residential corridors. The property is 98% leased and benefits from a long-duration tenant base.
Purpose-built as a corporate headquarters campus, CityWest includes a recently renovated fitness centre, basketball court and other recreational facilities, dining venues, outdoor gathering areas, onsite services and a secured campus environment with controlled access.
LaSalle said the investment reflected its approach to selective investments within the office sector, particularly in markets where leading assets benefit from limited new supply and shifting corporate location preferences.
The firm said West Houston has experienced strong recent leasing activity as companies have migrated toward high-quality office properties closer to the region’s growing residential base. CityWest has completed approximately 460,000sqft of lettings since 2023.
Stuart Sziklas, global portfolio manager at LaSalle, said: “CityWest represents an opportunity to invest in a high-quality, well-leased office campus in one of Houston’s most desirable corporate locations. The property has demonstrated strong leasing momentum as employers increasingly prioritise high-quality workplaces that offer convenient access to their employees, robust amenities and an attractive campus environment.
“We believe CityWest is well positioned to benefit from these trends over the long term.”
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