8/30/2007

Hines sells 919 Milam in Houston for $100 million

by

919 Milam

Hines sold the 25-story office building at 919 Milam in downtown Houston for just over $100 million to Chicago based Transwestern Investment Co.

Robert Williamson, Danny Miller and Scott Galloway Holliday Fenoglio Fowler LP represented Hines. Transwestern represented itself.

The building used to be called the Bank One building, but the name changed when Bank One moved out of the building after its merger with JP Morgan Chase. The address also used to be 910 Travis St.

The property is currently 77 percent leased. Major tenants include General Services Administration (GSA), the U.S. District Attorney's Office, Winstead Sechrest & Minick, P.C., Transworld Oil, Inc., and Johnson, Spalding, Doyle, West & Trent, LLP.

Hines acquired the building in 2005. It spent $11 million converting the lower four floors that were once occupied by Bank One into a 300-car on-site parking garage, bringing the rentable square footage down to 542,000 from 735,000.

Last week, Holliday Fenoglio Fowler also represented Hines when the company sold the 1.3 million square foot Bank of America Center in Houston to a joint venture between Novati Group and an affiliate of General Electric Pension Trust for $380 million.

Address: 919 Milam, Houston, Texas

Size: 542,000 square feet

Built: 1956

Architect Kenneth Franzheim

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Filed Under: Office

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