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North Houston Class-A Tower | CityNorth 1 233 Benmar Dr
253,562 SF Vacant Office Building Online Auction Sale Houston, TX 77060
Investment Highlights
- CityNorth 1 includes a vacant Class A suburban office tower with a prime location in the Greenspoint Plaza, ideal for a value-add investor.
- Numerous modern features, including secure, controlled access, 7 passenger elevators, wall-to-wall windows, and large floor plates.
- Within a vibrant office park with numerous on-campus restaurants, covered walkways, modern outdoor seating, and professional landscaping.
- Located just off the interchange of I-45 and Beltway 8, just 20 mins from Downtown Houston and 15 mins from George Bush Intercontinental Airport.
- Best-in-class amenities include a tenant lounge with Swing golf simulator, ping pong, and a coffee bar, as well as an on-site fitness center.
Executive Summary
CityNorth 1 was initially built in 1982 and totals 253,562 square feet across 12 stories, including a full basement and a penthouse suite. The property’s numerous modern features include a bright lobby with secure controlled access, seven high-speed passenger elevators, wall-to-wall windows, and a flexible mix of private and collaborative offices on spacious floor plates. The building was awarded LEED Gold Certification in 2014.
The best-in-class amenities at CityNorth 1 include a tenant-shared conference facility, a high-performance fitness center, and a well-equipped tenant lounge with a Full Swing golf simulator, a putting green, ping pong, pool tables, and a coffee bar. The property is equipped with a split-level parking garage that includes both covered and reserved parking options, providing ample spaces and reducing commute times.
Located just off the intersection of Interstate 45 and Highway 8, the property is easily accessible and facilitates quick and easy commutes. Further distance travel is supported by the George Bush Intercontinental Airport, reachable in just 15 minutes. Downtown Houston is 20 minutes away, providing opportunities for world-class entertainment, sports, and nightlife.
The area’s exceptional connectivity and surrounding amenities have attracted numerous desirable residential communities near CityNorth, including Kingwood, Champions, and the Woodlands. Within 5 miles of 17001 Northchase Drive, the population of more than 255,000 has grown by over 11% since 2010, delivering a stable workforce to new businesses.
Make your mark on the Houston market with this trophy office tower with unmatched amenities and convenient interstate access at 233 Benmar Drive - CityNorth 1.
Explore other exciting opportunities with the auctions of CityNorth 5 and CityNorth 6:
CityNorth 5: https://www.ten-x.com/listing/address/32628340
CityNorth 6: https://www.ten-x.com/listing/address/33689977
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
Market Analytics Click Here to Access
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Market Sale Price per SF
Houston - TX USA
Market Cap Rate
Houston - TX USA
Market Sale Price per SF by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per SF Distribution
Market Cap Rate Distribution
Property Facts
Amenities
- Banking
- Controlled Access
- Dry Cleaner
- Fitness Center
- Food Service
- Property Manager on Site
- Security System
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
Two, Three, Four, Five and Six Greenspoint Place have contiguous space up to 1,437,884 square feet available.
Two, Three, Four, Five and Six Greenspoint Place have contiguous space up to 1,437,884 square feet available.
Two, Three, Four, Five and Six Greenspoint Place have contiguous space up to 1,437,884 square feet available.
Two, Three, Four, Five and Six Greenspoint Place have contiguous space up to 1,437,884 square feet available.
Two, Three, Four, Five and Six Greenspoint Place have contiguous space up to 1,437,884 square feet available.
Two, Three, Four, Five and Six Greenspoint Place have contiguous space up to 1,437,884 square feet available.
Two, Three, Four, Five and Six Greenspoint Place have contiguous space up to 1,437,884 square feet available.
Two, Three, Four, Five and Six Greenspoint Place have contiguous space up to 1,437,884 square feet available.
Two, Three, Four, Five and Six Greenspoint Place have contiguous space up to 1,437,884 square feet available.
Two, Three, Four, Five and Six Greenspoint Place have contiguous space up to 1,437,884 square feet available.
Two, Three, Four, Five and Six Greenspoint Place have contiguous space up to 1,437,884 square feet available.
Two, Three, Four, Five and Six Greenspoint Place have contiguous space up to 1,437,884 square feet available.
Space | Size | Space Use | Condition | Available |
1st Floor | 10,757 SF | Office | Full Build-Out | Now |
2nd Floor | 21,907 SF | Office | Full Build-Out | Now |
3rd Floor | 22,101 SF | Office | Full Build-Out | Now |
4th Floor | 22,101 SF | Office | Full Build-Out | Now |
5th Floor | 22,101 SF | Office | Full Build-Out | Now |
6th Floor | 22,101 SF | Office | Full Build-Out | Now |
7th Floor | 22,101 SF | Office | Full Build-Out | Now |
8th Floor | 22,101 SF | Office | Full Build-Out | Now |
9th Floor | 22,101 SF | Office | Full Build-Out | Now |
10th Floor | 22,101 SF | Office | Full Build-Out | Now |
11th Floor | 22,101 SF | Office | Full Build-Out | Now |
12th Floor | 21,989 SF | Office | Full Build-Out | Now |
1st Floor
Size |
10,757 SF |
Space Use |
Office |
Condition |
Full Build-Out |
Available |
Now |
2nd Floor
Size |
21,907 SF |
Space Use |
Office |
Condition |
Full Build-Out |
Available |
Now |
3rd Floor
Size |
22,101 SF |
Space Use |
Office |
Condition |
Full Build-Out |
Available |
Now |
4th Floor
Size |
22,101 SF |
Space Use |
Office |
Condition |
Full Build-Out |
Available |
Now |
5th Floor
Size |
22,101 SF |
Space Use |
Office |
Condition |
Full Build-Out |
Available |
Now |
6th Floor
Size |
22,101 SF |
Space Use |
Office |
Condition |
Full Build-Out |
Available |
Now |
7th Floor
Size |
22,101 SF |
Space Use |
Office |
Condition |
Full Build-Out |
Available |
Now |
8th Floor
Size |
22,101 SF |
Space Use |
Office |
Condition |
Full Build-Out |
Available |
Now |
9th Floor
Size |
22,101 SF |
Space Use |
Office |
Condition |
Full Build-Out |
Available |
Now |
10th Floor
Size |
22,101 SF |
Space Use |
Office |
Condition |
Full Build-Out |
Available |
Now |
11th Floor
Size |
22,101 SF |
Space Use |
Office |
Condition |
Full Build-Out |
Available |
Now |
12th Floor
Size |
21,989 SF |
Space Use |
Office |
Condition |
Full Build-Out |
Available |
Now |
1st Floor
Size | 10,757 SF |
Space Use | Office |
Condition | Full Build-Out |
Available | Now |
Two, Three, Four, Five and Six Greenspoint Place have contiguous space up to 1,437,884 square feet available.
2nd Floor
Size | 21,907 SF |
Space Use | Office |
Condition | Full Build-Out |
Available | Now |
Two, Three, Four, Five and Six Greenspoint Place have contiguous space up to 1,437,884 square feet available.
3rd Floor
Size | 22,101 SF |
Space Use | Office |
Condition | Full Build-Out |
Available | Now |
Two, Three, Four, Five and Six Greenspoint Place have contiguous space up to 1,437,884 square feet available.
4th Floor
Size | 22,101 SF |
Space Use | Office |
Condition | Full Build-Out |
Available | Now |
Two, Three, Four, Five and Six Greenspoint Place have contiguous space up to 1,437,884 square feet available.
5th Floor
Size | 22,101 SF |
Space Use | Office |
Condition | Full Build-Out |
Available | Now |
Two, Three, Four, Five and Six Greenspoint Place have contiguous space up to 1,437,884 square feet available.
6th Floor
Size | 22,101 SF |
Space Use | Office |
Condition | Full Build-Out |
Available | Now |
Two, Three, Four, Five and Six Greenspoint Place have contiguous space up to 1,437,884 square feet available.
7th Floor
Size | 22,101 SF |
Space Use | Office |
Condition | Full Build-Out |
Available | Now |
Two, Three, Four, Five and Six Greenspoint Place have contiguous space up to 1,437,884 square feet available.
8th Floor
Size | 22,101 SF |
Space Use | Office |
Condition | Full Build-Out |
Available | Now |
Two, Three, Four, Five and Six Greenspoint Place have contiguous space up to 1,437,884 square feet available.
9th Floor
Size | 22,101 SF |
Space Use | Office |
Condition | Full Build-Out |
Available | Now |
Two, Three, Four, Five and Six Greenspoint Place have contiguous space up to 1,437,884 square feet available.
10th Floor
Size | 22,101 SF |
Space Use | Office |
Condition | Full Build-Out |
Available | Now |
Two, Three, Four, Five and Six Greenspoint Place have contiguous space up to 1,437,884 square feet available.
11th Floor
Size | 22,101 SF |
Space Use | Office |
Condition | Full Build-Out |
Available | Now |
Two, Three, Four, Five and Six Greenspoint Place have contiguous space up to 1,437,884 square feet available.
12th Floor
Size | 21,989 SF |
Space Use | Office |
Condition | Full Build-Out |
Available | Now |
Two, Three, Four, Five and Six Greenspoint Place have contiguous space up to 1,437,884 square feet available.
About Greenspoint/N Belt West
The North Houston District is centrally located along Interstate 45 between Beltway 8 and the Grand Parkway, connecting the area to parts of Houston that have seen significant population and employment growth, including Springwoods Village, Cypress, Tomball, and the Lake Houston Area. It is also close to Houston’s largest airport, Bush Intercontinental.
ExxonMobil recently moved into more than 3 million square feet just minutes north of the area, bringing more than 10,000 employees to the locale. Corporate tenants such as ABS, HPE, and HPI also recently relocated to large new office campuses in Springwoods Village.
Job growth has been robust in this part of Houston also because of developments such as Grocers Supply and Conn’s HomePlus’ distribution centers, as well as Pinto Business Park, which is home to Amazon, Coca-Cola, and other large employers.
Since 2010, more than 80% of the population growth that has occurred in Harris County has been in its unincorporated areas, not far from the North Houston district. The area’s energy, business services, and healthcare tenants draw from the labor pool and customer base of residents and commuters who take Interstate 45 to and from work. High-end office space in North Houston is also more affordable than in nearby areas.
Investors are attracted to this area because of its strong economic base and the relative value assets here provide. Pricing is favorable, too, with the average price per square foot below Houston region’s average and at a discount from neighboring Northwest and Northeast.
DEMOGRAPHICS
Demographics
zoning
Zoning Code | CC |
CC |
PROPERTY TAXES
Parcel Number | 1121140000009 | Improvements Assessment | $4,751,333 |
Land Assessment | $831,480 | Total Assessment | $5,582,813 |
PROPERTY TAXES
Sale Advisor
David Carter, Principal & Director
Expertise, knowledge and commitment to clients are Carter’s skill set that allow his clients to make critical decisions with the right information, delivering valuable real estate solutions to grow their business.
Carter has consistently been recognized as a Houston top producer in commercial real estate since 1997 and has earned the professional designations of Certified Commercial Investment Member (CCIM) and Society of Industrial and Office Realtors (SIOR), President in 2009.
He is a member of NAIOP and licensed real estate broker in the State of Texas, holds a Bachelor of Business Administration degree specializing in Finance from Sam Houston State University and is a member of Sigma Chi Fraternity.
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North Houston Class-A Tower | CityNorth 1 | 233 Benmar Dr
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