HOUSTON—Privately held real estate search portal Realty.com recently acquired the entire commercial real estate portfolio of Texas-based Oxley Leasing. The transaction includes approximately 1 million square feet of office space in Houston and Dallas.
The acquisition was led by Realty.com CEO Lance Custen. The purchase price was undisclosed.
The properties are located at 2646 S. Loop West and 8303-8313-8323 Southwest Freeway, both in Houston, 213 W. Southmore Ave. in Pasadena, TX and 5787 S. Hampton Rd. in Dallas. The mega-buy will result in the renovation of all buildings into class-A office spaces with amenities including full-size restaurants, arcades and gyms.
The reasoning for the acquisition is two-fold, says Custen.
“Realty.com Is on a mission to disrupt the real estate market. Up to this point, the primary focus has been in the residential market by providing real estate agents the ability to be the exclusive premium Realty.com agent in their city,”