BREAKING NEWS

Houston Design District Adds Modern Apartments

Green Builder: AI, Sustainability are the Future, Beazer CEO Says

Walmart’s ‘Store of The Future’ Prototype Opens in Houston

Toll Brothers debuts 55 and up community in Houston

What Led the ‘Joy Score’ in Home Remodeling?

Underpassage: The New Experiential Entry Portal Into Downtown

REALTY NEWS REPORT - Logo

Downtown Houston
RNR-RalphBivinsProject-Interviews
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact
FacebookLinkedinYoutubeEmail
REALTY NEWS REPORT - Logo

Shorenstein Selling Five Post Oak Park for Anticipated $185 Million

by Realty News ReportOctober 22, 2014
Share0
Five Post Oak Park, a 28-story office tower in Houston.
Five Post Oak Park, a 28-story office tower in Houston.

HOUSTON – Shorenstein Properties is selling the 28-story Five Post Oak Park, an Inner Loop Houston office building that is expected to fetch $185 million, or $326 per square foot.

The Real Estate Alert newsletter reported that the deal is considered a “value add” play because the building’s anchor tenant Amergy Bank is expected to relocate in 2016. Amegy is moving into a new office building on Loop 610 on the site of the old Micro Center store.

Five Post Oak Park, 4400 Post Oak Parkway, is a 567,000-square-foot building, across from the St. Regis Hotel, just north of San Felipe street. Many real estate firms consider Five Post Oak Park to be part of the Galleria submarket.

Shorenstein, which is redeveloping the Exxon Mobil building in downtown Houston, has retained HFF to market Five Post Oak, the newsletter said.

In 2002 Crescent Real Estate and an affiliate of GE Pension Trust bought Five Post Oak Park for $65 million. In 2008 Shorenstein Properties bought the building, which was designed by Morris Aubrey Architects. The office building was developed by The Winter Company.

The property is part of the 43-acre Post Oak Park business park, which is located just west of the affluent River Oaks neighborhood.

The building is 98 percent occupied with Amegy occupying 174,000 square feet. Amegy is paying only $11 per square foot rent on its old lease, which expires in November 2016, and the current market rent is $28 per square foot, according to Real Estate Alert.

Share0
previous post
Houston Ranked No. 1; Austin 2nd in ULI Emerging Trends 2015 Realty Forecast
next post
City of Austin Wins ULI Affordable Housing Award

Related posts

Houston Design District Adds Modern Apartments

Realty News ReportMay 14, 2025May 14, 2025

Green Builder: AI, Sustainability are the Future, Beazer CEO Says

Realty News ReportMay 13, 2025

Walmart’s ‘Store of The Future’ Prototype Opens in Houston

Realty News ReportMay 11, 2025

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Search News

CommGate
new version
ECD-RealtyNewsReport-Ad-300x250
Partners Ad
CBRE Ad
Arch Con Corporation Ad
Hines Ad
Avera Ad
RNR Ad 030124
Ziegler Cooper Ad
Lee & Associates Ad
2021 Realty News Report Ad
RNR - Lincoln Property Company
Hal Gordon - Property Tax Lawyer
Hunington Ad
230725-RNR_Digital-Ad_Red
Hunington Ad

Let's Connect

logo
About US
Author Ralph Bivins is editor of Realty News Report, which covers regional and national news. Bivins recently received the Gold Award for Best Column in the National Association of Real Estate Editors Journalism Competition. Contact us
Follow us
FacebookLinkedinYoutubeEmail
@2022 All Right Reserved. Powered by CGS Digital Marketing
REALTY NEWS REPORT - Logo
FacebookLinkedinYoutubeEmail
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact