11/29/2007

Houston office property fetches $44.5M

by Michael Wayne
NWX Partners, an affiliate of Granite Properties, has purchased a 386,272 square foot office building in Houston, Texas for $44.5 million from Boston, Mass.-based TA Associates.

Rusty Tamlyn, Dan Miller and Marty Hogan of Holliday Fenoglio Fowler represented the seller while TA Associates handled the negotiations in-house.

The building is located at 363 N. Sam Houston Parkway East. The 19-story highrise was built in 1982.

Earlier this month, Granite Properties, in a joint venture with Wells Real Estate Investment Trust II, Greenstone Properties and Pope & Land Enterprises, acquired the majority interest in the ownership of Three Glenlake, the future headquarters of Newell Rubbermaid in Sandy Springs, Ga.

Address: 363 N. Sam Houston Parkway East, Houston, Texas

Size: 386,272 square feet

Built: 1982

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Filed Under: Office

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