The Kirkwood Tower, a 280,000-square-foot office building in Houston’s Energy Corridor, was sold twice in 2025 following a period of financial difficulty. The property at 11757 Katy Freeway first changed ownership in March when Gemini Rosemont transferred the building to Apollo Global Management after defaulting on a $30.9 million loan from Voya Insurance. In December, David Z. Mafrige Interests, a Houston-based firm focused on redeveloping office and retail properties, acquired the tower from Apollo Global Management.
Stream Realty represented David Z. Mafrige Interests in the transaction and continues to handle leasing for the property. According to Stream Realty, “In conjunction with the ownership change, Stream completed 150,000 square feet of lease transactions, bringing the building’s occupancy to 76 percent.”
Kirkwood Tower is a 15-story building constructed in 1984 and renovated in 2015. It is located along Interstate 10 about 17 miles west of downtown Houston.
Data from the Greater Houston Partnership showed that at the end of the third quarter of 2025, Houston’s office market had an availability rate slightly above 26 percent—down from its peak of just over 28 percent at the end of 2022.
A report indicated that newer buildings—those completed within the last fifteen years—have vacancy rates below 15 percent on average, while older buildings average nearly double that figure at close to 28 percent vacancy.
The Energy Corridor submarket has remained resilient despite broader struggles across Houston’s office sector. Several significant leases were signed there in 2025: SM Energy expanded its footprint at Eldridge One (777 North Eldridge Parkway), and Black & Veatch secured $5 million for improvements when it leased almost 41,000 square feet at Mac Haik’s Energy Tower II (11720 Katy Freeway).
