HOUSTON – (Realty News Report) – The 40-story skyscraper at 601 Jefferson has been sold in one of Houston’s largest office building transactions recorded in the last year.
The 1.06-million-SF building was acquired by Namdar Realty Group of Great Neck, New York, according to JLL. The price was $66 million, according to an SEC filing.
The KBR engineering and construction firm, is the anchor tenant in the building, where it leases 87% of the tower. Overall, the building is 92% leased, according to Kevin McConn of JLL Capital Markets. McConn and Jeff Hollinden handled the deal.
“The opportunity offered significant immediate yield, resulting in tremendous interest from various private capital sources locally and nationally, including several new-to-market investors,” said McConn.
JLL represented the seller, Net Lease Office Properties, a REIT that was once part of the W.P. Carey organization.
W.P. Carey purchased the 601 Jefferson tower in 2012 for $174.6 million.
Built in 1973, the tower was part of the Cullen Center office complex built around Smith and Louisiana streets by the family of the legendary oilman, Hugh Roy Cullen.
Another Cullen Center office tower, formerly known as 600 Jefferson, was recently converted into a 372-unit apartment building called Elev8. An organization led by Eddie DeBartolo, former owner of the NFL’s San Francisco 49ers, redeveloped the building, which now goes by the address of 1801 Smith.
In a press release distributed Monday, JLL said the tower contains 1,047,748-SF. However, in a SEC document filed earlier this month, the seller, Net Lease Office Properties, said the building has 1,064,788 SF.
Jan. 26, 2026 Realty News Report Copyright 2026
Photo credit: Realty News Report, Copyright 2026
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File: Downtown Skyscraper Sells for $66 Million