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Brookfield Finalizes $875M Houston Center Deal
Houston Center, a 4.2-million-square-foot, urban office and retail complex in downtown Houston, TX has traded hands for $875 million. Brookfield Property Partners acquired the three-tower and 16-story above nearly 200,000 square feet of retail from institutional investors advised by J.P. Morgan Asset Management.
Currently 71.6% leased, the property’s largest tenants include LyondellBasell Chemical Company, Norton Rose Fulbright and Haynes and Boone. As the largest property in Houston’s CBD, the USGB LEED Gold certified asset occupies a 9.2-acre, 6.5-block, fully-amenitized site that offers fine dining and casual restaurants.
HFF’ investment advisory team representing the seller included Jeff Hollinden, Scott Galloway, Mark Gibson and Trent Agnew. Houston-based Transwestern is handling the leasing assignment for assets expected to undergo significant renovations.
Properties include
– LyondellBasell Tower, 46 stories, 1.1M SF at 1221 McKinney St.
– 2 Houston Center, 40 stories, 1M SF at 909 Fannin
– Fulbright Tower, 51 stories, 1.2M SF at 1301 McKinney
– 4 Houston Center, 16 stories, 674,000 SF on Lamar Street
– The Shops at Houston Center, three stories, 196,000 SF on McKinney Street
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition

