Local brokers Hank Saurage and Edward Rotenberg purchased a 5,000-square-foot office building at the corner of Bluebonnet Boulevard and Gail Drive through H&E Properties LLC for $970,000 as an investment and for possible future growth of their commercial real estate company.
They acquired the building from Landwell Investments LLC and it’s manager Scott Bardwell, a local developer, who purchased the building in 2015 for $875,000.
The two-tenant building is located in The Province at Bluebonnet office park. Ameriprise Financial currently leases one space, and Saurage says he hopes to have the second space leased in the next two weeks. The space currently headquarters Bardwell Homes, which is moving to Wrenwood Boulevard.
Part of the investment appeal is the building is located in the same nine-building office park as the main office for Saurage Rotenberg Commercial Real Estate. Moreover, the pair represented Bardwell when he bought the building.
“We feel this is one of the best located office parks as far as location and convenience,” Saurage says.
Will Adams with Property One represented both parties in the transaction.
