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Category Archives: Trades

Verde Realty of Houston to be Purchased for $366 Million

HOUSTON – Verde Realty, a Houston-based REIT, will be purchased by Brookfield Asset Management and Hillwood Investment Properties for $366 million. Verde Realty owns 78 industrial properties in Texas, California, suburban Chicago, Maryland, Utah and northern Mexico. “This merger transaction with Brookfield ensures that Verde is well-positioned to benefit from renewed demand for industrial space which will increase as the ... Read More »

Deer Park Industrial Building Sold for $17.8 Million

DEER PARK, Texas  – Inland Diversified Real Estate Trust has purchased the 160,000-square-foot Siemens Gas Turbine Division North American headquarters in Deer Park for $17.8 million. Completed this year, the manufacturing building houses Siemens Gas Turbine Service Division, a division of Siemens Corp., and is used for the production of gas turbines. The building is located in the Deerwood Glen ... Read More »

CapLease REIT Purchases Woodlands Building for $40.5 Million

THE WOODLANDS – CapLease has purchased the fully leased Reserve at Sierra Pines office building in The Woodlands, just north of Houston, for $40.5 million. The 175,000-sf building, 1585 Sawdust Road, was developed by Stream Realty. the Woodlands property is 100% leased with two       investment grade rated large corporate tenants occupying about 70% of  the space. Approximately 61% of the ... Read More »

Hines Selling Shell Plaza in Houston for $550 Million

HOUSTON – Hines is selling the 1.8 million square foot Shell Plaza office complex in downtown Houston for $550 million. The buyer is an affiliate of Enterprise Products Company, which was founded by the late billionaire Dan Duncan. Completed in 1970, Shell Plaza, a two-building complex, was developed by Hines and designed by Skidmore, Owings & Merrill. Shell Plaza is the ... Read More »

Office Building Sold in Houston’s Energy Corridor

HOUSTON — Frontier Equity purchased  Kirkwood Tower, a 285,682-square-foot, Class A office building in Houston’s Energy Corridor. Kirkwood Tower, 11757 Katy Freeway, was built in 1984. The 15-floor office tower, which is 74.4 percent leased, has  a six-level parking garage and 10-story glass enclosed atrium. HFF marketed the property on behalf of Equastone Kirkwood, LP. Frontier Equity purchased the property ... Read More »

Hines Buys Salt Lake City Project

SALT LAKE CITY – Hines,  in a joint venture with a subsidiary of a real estate fund managed by Oaktree Capital Management, has acquired South Towne Corporate Center in Sandy, UT, from KBS Realty Advisors.  The two-building, 248,352-square-foot Class A office complex is located off of Interstate 15 just 15 miles south of downtown Salt Lake City and the Salt ... Read More »

Younan Sells West Loop Tower

HOUSTON – ROC Bridge Partners, LLC of Salt Lake City has purchased the 1700 West Loop South office building in Houston from Younan Properties and joint venture partner Passco Cos. The building is a  Class A 272,000-square-foot office high-rise attached to the Marriott Hotel. Younan Properties was represented by Darrell Betts of Avison Young in the transaction. ” This is ... Read More »

Lionstone Buys Pair of Buildings in The Woodlands

HOUSTON – The Lionstone Group, a private real estate investment firm purchased the Waterway Plaza I & II office buildings in The Woodlands, north of Houston. The two Class A office buildings contain a total of 366,000 square feet. Trent Agnew, Robert Williamson and Jeff Hollinden of Holliday Fenoglio Fowler represented the seller, Daymark, in the transaction. Lionstone previously owned ... Read More »

Hines Sells Denver Office Project

DENVER – Hines has sold its Mountain View Corporate Center, a four-building, 461,438-square-foot, Class A office development in Broomfield, Colorado. Westfield Capital Partners purchased the property. The property is 92 percent leased to tenants such as Time Warner Cable, TransFirst and White Wave Foods.  Situated on 27 acres of land, the property is located on Airport Way next to Rocky ... Read More »

Weingarten Leaves the Warehouse Business, Selling 52 Properties for $382 Million

HOUSTON -Weingarten Realty Investors, a Houston-based REIT, has sold 52 industrial properties for $382.4 million, enabling Weingarten to focus solely on shopping centers. “The completion of this portfolio sale is a significant step in our previously outlined capital recycling initiative and effectively positions Weingarten as a pure-play retail REIT. We will continue our commitment in building shareholder value through the ... Read More »

Historic St. Anthony Hotel of San Antonio Sold

SAN ANTONIO – The St. Anthony Hotel, a 352-room, historic hotel in San Antonio, has been purchased by San Antonio-based BC Lynd, which will spend $24 million to renovate the 103-year-old property. The St. Anthony Hotel is located at 300 East Travis Street at the intersection of Navarro Street in downtown San Antonio.  The 10-story property offers 22 meeting rooms ... Read More »

Centennial Buys Retail in North Texas

NORTH RICHLAND HILLS, Texas  – Centennial Real Estate bought The Crossing, a 247,720-square-foot community center located in North Richland Hills, Texas. The Crossing is anchored by Kohl’s and shadow anchored by a Kroger Signature store. It is positioned at the northwest corner of the intersection of Grapevine Highway and the newly-widened Precinct Line Road, and lies within the civic core ... Read More »

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