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Houston’s TC Energy Center on Block, Owner Asking $285M
It’s hard to miss. One of Houston’s most recognizable downtown skyscrapers, the 56-story, uniquely designed TC Energy Center, has been put up for sale for $285 million. The 1.3 million-square-foot office tower is known for its red granite façade and unique stair-step gothic architecture.
It’s also been known lately as a building whose owner is not up on payments to the lender. The Houston Business Journal reports, in March, S&P Global reported that the tower had the largest delinquent loan in the country at the time. The financial firm said the building had a delinquent balance of $96 million.
Houston-based Hines built TC Energy Center in October 1983. The property was later sold to a joint venture of M-M Properties.
In recent years, TC Energy Center underwent a $22 million renovation that added an 8,000-square-foot restaurant space, a new tenant lounge, a conference center, a lobby coffee bar and new mezzanine-level collaborative workspaces. It’s currently 70% leased.
