Howard Hughes Holdings Inc. acquired 10101 Woodloch Forest Drive in the community of The Woodlands in Texas.

The Class-A office building, which will be renamed 7 Waterway, adds over 200,000 square feet of available office space to the company’s growing portfolio in the highly desirable Waterway District. The eight-story building, purchased for $16.3 million, sits on a 1.6-acre site, with 700 parking spaces in an adjacent garage owned by the company under a perpetual parking agreement. The unoccupied building provides Howard Hughes with the immediate ability to offer in-demand Class A office space in the region’s highest-performing office submarket.

Originally built in 2009, 7 Waterway boasts close proximity to I-45 and convenient access to world-class amenities within walking distance, including 645 hotel rooms; more than two million square feet of shopping and dining at Waterway Square, Market Street, and The Woodlands Mall; as well as 1,157 luxury multifamily units.