(HOUSTON, TX) – Rycore Capital has acquired Westpark Business Center, a ~102,328 square foot multi-tenant flex industrial property located at 6300 Westpark Drive in Houston, Texas. Rycore and its affiliates will provide operational, asset, property, and construction management services for the investment.
Originally built in 1986, Westpark Business Center is a Class B shallow-bay industrial asset currently approximately 60% occupied, offering a functional mix of small-bay suites catering to a diverse tenant base. The acquisition was completed at a basis well below replacement cost, positioning the investment with strong downside protection and significant upside potential. In-place rents are materially below market, and the current vacancy provides a compelling opportunity to drive mark-to-market rent growth through lease-up, renewals, and targeted capital improvements. The property is strategically located within Houston’s Southwest Outer Loop submarket, one of the city’s most supply-constrained and infill industrial corridors, with direct access to Interstate 69, Interstate 610, and the Westpark Tollway, providing strong connectivity to Houston’s urban core and surrounding population centers.
“We are pleased to announce the off-market acquisition of Westpark Business Center at a highly attractive basis. The investment offers a significant upside through mark-to-market rent opportunities, lease-up of vacancy, strategic repositioning, enhanced professional management, and a targeted capital improvement program. The acquisition is consistent with Rycore Capital’s value-add strategy, focused on driving operational improvements and unlocking embedded value across its portfolio.”, said Chris Bergersen, Director of Acquisitions at Rycore Capital.
About Rycore Capital LP
Rycore Capital LP (the “Firm”) is a Houston-based real estate investment manager with approximately $413 million AUM, focused on acquiring, leasing and managing income producing properties that deliver superior real estate solutions to our tenants while providing our investment partners with some of the most consistent value-add, core-plus and core returns. The Firm offers two investment platforms to investors: Fund Management and Direct Investment Advisory. The Firm aims to provide a solution with its institutional quality real estate investment management process to high net worth, family office and institutional investors. For more information regarding Rycore, visit the Company’s website at www.rycorecapital.com.