Tuesday , 27 September 2016
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Houston Galleria Area Office Building Sells for $125 Million

MetLife Real Estate Investors bought 3040 Post Oak building in Houston's Lakes on Post Oak complex near Galleria.

MetLife Real Estate Investors bought 3040 Post Oak building in Houston’s Lakes on Post Oak complex near Galleria.

HOUSTON – MetLife Real Estate Investors paid about $125 million to purchase a 22-story building just south of The Galleria.

CBRE has retained the leasing and management assignment for the Class A office building, 3040 Post Oak Boulevard, on behalf of the new owner.

The 426,009-square-foot office building is part of the Lakes on Post Oak complex near The Galleria. A Five Mile Capital and Crocker Partners partnership sold the three buildings in separate transactions this summer. 3040 Post Oak Boulevard’s major tenants include Bechtel Engineering, Carriage Services and Jackson & Cooksey.

CBRE’s Cody Armbrister and Rima Soroka are representing the new owner in leasing the building.

“We’re pleased to announce a new 85,000-square-foot block of vacant space at the building,” Soroka said.

The 23-acre Lakes on Post Oak development, developed by Hines in 1982, consists of three office buildings totaling 1.2 million square feet. The site is just west of Loop 610 between Westheimer Road and Richmond Avenue.

The Real Estate Alert newsletter recently reported on deals in the Lakes on Post Oak:

.            FG Asset Management, a Korean syndicator, has agreed to pay $175 million for the 3000 Post Oak Boulevard building, which has 441,000 square feet.

.        The Chinese oil company Sinopac has already closed on the 3050 Post Oak Boulevard office tower, paying $100 million for the 337,000-square-foot building.

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