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Category Archives: Capital Markets

Another Westchase Office Building Sold in Blazing Hot West Houston Market

HOUSTON –  Columbia Centre, an office building located in Houston’s Westchase submarket, has been sold to Dornin Investment Group. Columbia Centre is a 166,720-square-foot, Class B+ nine-story office building.  It has access to the West Sam Houston Parkway, Westpark Tollway, Westheimer Road, and three major thoroughfares in West Houston. The building has frontage along Richmond Avenue and along Wilcrest Drive. JLL’s Managing Director Rudy Hubbard, ... Read More »

Bahrain-based Investcorp Selling Westchase Building for $110 Million

HOUSTON – Investcorp, a Bahrain-based investment firm, is seeking to sell  One Westchase Center, a 466,000 square-foot office building in West Houston, according to Real Estate Alert newsletter. The building could sell for as much as $110 million, which would represent a handsome profit over the $80 million it paid for the building only a year and a half ago, ... Read More »

Los Angeles Ranked as No. 1 Deal-Making Venue by Transwestern

HOUSTON – Los Angeles leads the nation in office building transactions in 2014, and Manhattan is No. 2, according to a mid-year report released by Transwestern, the Houston-based commercial real estate company. The report covered office building sales, with a price of more than $2.5 million, for deals completed year-to-date before July 31. Transwestern’s 2014 Deal Rankings: Los Angeles – ... Read More »

Goddard Buys Fountain Place Tower in Dallas for $200 Million

DALLAS – Atlanta-based Goddard Investment Group, LLC, has acquired Fountain Place, one of the most recognizable skyscrapers in Texas for a reported $200 million. The 58-story office tower, located near the Arts District in Dallas, was built in 1986. Goddard partnered with an arm of Metropolitan Life Insurance to make the acquisition for a price that was close to $200 ... Read More »

Exxon Mobil Sells Greenspoint Building to Stream Partnership

HOUSTON – Exxon Mobil, which is moving thousands of employees to its new campus near The Woodlands, has sold its Eight Greenspoint building in north Houston. The Greenspoint area, which includes the Greenspoint Mall near the intersection Interstate 45 and Beltway 8, has been identified as one of the submarkets that could be hard-hit by Exxon Mobil’s relocation to its ... Read More »

Houston’s Trophy Towers: Breaking the $400 Per SF Barrier; Sale of Heritage Plaza Solidifies Price Trend

HOUSTON – AEW Capital’s purchase of the Heritage Plaza tower in downtown Houston continues to support trends for for trophy building sales over $400 per square foot – rarified pricing that was once thought to be unattainable. AEW Capital has agreed to acquire a controlling interest in the 53-story Heritage Plaza for approximately $475 million, or $413 per square foot, according ... Read More »

AEW Capital Buying Majority Stake in Heritage Plaza in Downtown Houston in $400 Million Deal at About $413 per SF

HOUSTON – AEW Capital has agreed to acquire a controlling interest in the 53-story Heritage Plaza, according to the authoritative Real Estate Alert newsletter. The 1.15 million-sf building, known as one of Houston’s most distinctive towers because its top resembles a Mayan temple, is valued at approximately $475 million.  AEW, a Boston-based investment manager, is believed to be acquiring at ... Read More »

Pair of Buildings Sold on Houston’s North Loop

HOUSTON – A pair of office buildings on the North Loop 610 in Houston have been purchased by a partnership of entity of Houston-based Fuller Realty Advisers and Dallas-based Chief Partners. The office complex, which totals 303,000 SF and is 60 percent leased, is comprised of two office buildings at 2707 and 2727 North Loop West. CBRE’s Todd Casper, Jared ... Read More »

Gaedeke Group Buys Millennium Tower in North Dallas

DALLAS – Gaedeke Group LLC has acquired the 351,683-sf Millennium Tower in far north Dallas from KBS Realty Advisors in an all-cash transaction. Located on 3.4 acres at 15455 N. Dallas Parkway in Addison, Millennium Tower has been institutionally owned since its completion in 2000 by Dallas developer Wynn Jackson. KBS Realty acquired the property in June 2008 from RREEF. ... Read More »

Noble Energy Center One Sells; Formerly a Compaq Building in Northwest Houston

HOUSTON – Noble Energy Center One, a 500,000 SF building that was originally part of the Compaq Computer campus in northwest Houston, has been sold to Cole Corporate Income Trust of Scottsdale, Ariz. Originally built in 1998, the 10-story structure was redeveloped, certified LEED Gold, and leased by Noble Energy as its corporate headquarters in 2012. Trammell Crow Co., in joint ... Read More »

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