crefeed.com | HFF facilitates sale of five-property Houston office portfolio

4/24/2009

HFF facilitates sale of five-property Houston office portfolio

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SLS Houston Properties, LLC purchased a five-property, 157,672-square-foot office portfolio in Houston, Texas from Brookfield Asset Management.

Holliday Fenoglio Fowler's Senior Managing Director Dan Miller and analyst Trent Agnew represented the seller in the transaction.

The portfolio, which is approximately 75 percent leased, is 43 percent occupied by JPMorgan Chase with an average remaining lease term of 12.5 years. Additional tenants include local and regional companies or individuals. Two of the properties have excess land for future development.

The portfolio consists of:

-Gulfgate, located at 2900 Woodridge, consisting of 54,747 square feet. It was constructed in 1985.

-West Oaks, located at 6200 Highway 6 South, consisting of 29,250 square feet.

-Westwood, located at 9525 Bissonnet, consisting of 23,002 square feet.

-Stafford, located at 11806 Wilcrest, consisting of 21,622 square feet.

-Cy Fair, located at 13103 FM 1960 West, consisting of 29,051 square feet.

Filed Under: Office

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