10/9/2007Transwestern negotiates sale of its Houston highrise
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| 3D/International Tower |
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| Mr. Hubbard |
A joint venture between
Lowe Enterprises Real Estate Group and
Buchanan Street Partners has acquired the 3D/International Tower in Houston for an undisclosed price from Chicago-based
Transwestern Investment Co. LLC.
Rudy Hubbard and
Leah Gallagher of
Transwestern's Houston office represented the seller in the transaction.
Built in 1979 on 6.1 acres, the 3D Tower contains 404,415 square feet and is located at 1900 W. Loop South. Transwestern purchased the highrise in 2002.
The building is 90 percent leased.
The joint venture plans to invest $1.5 million in upgrades to the building, which will continue to be leased and managed by Transwestern's Houston office.
Hubbard, a managing director, is a 23-year commercial real estate broker. Prior to joining Transwestern, he was in charge of investment sales with Trione & Gordon/Oncor International, now CB Richard Ellis Houston. He has been selected by
Commercial Property News as one of the nation's Top 24 brokers and is an alumnus of Florida State University.
Gallagher is an associate with Transwestern's Houston Investment Services Group and has been with the company for five years. She is a member of the Urban Land Institute and an alumna of the University of Texas in Austin.
Lowe Enterprises is a diversified national real estate organization.
Transwestern is a principal investment firm specializing in commercial real estate.
Buchanan Street Partners is a real estate investment bank that invests on behalf of private and institutional clients.
Address: 1900 W. Loop South, Houston, Texas
Size: 404,415 square feet
Built: 1979
Filed Under: Office | | |
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