Friday, October 31, 2014

HFF named to market for sale Class A office tower in Houston’s Galleria submarket

Jeffrey Hollinden
HOUSTON, TX – HFF announced it has been named to market for sale Five Post Oak Park, a 567,264-square-foot, Class A office tower in Houston’s Galleria submarket.

               HFF is marketing the asset on behalf of the seller, Shorenstein.  The property is listed without a formal asking price.

               Five Post Oak Park is situated on 3.6 acres at 4400 Post Oak Parkway just to the east of Loop 610 between Houston’s Galleria and River Oaks areas. 

The property is a short distance from Uptown Park, The River Oaks District, Highland Village and BLVD Place, and is only seven miles from downtown Houston. 

The 28-story asset also includes a 1,673-space parking garage.  Tenants at the 97.8 percent leased tower include Amegy Bank, Willbros U.S., UBS Financial and Midstates. 

               The HFF investment sales team representing the seller is led by senior managing directors Jeff Hollinden and Robert Williamson. 

Robert Williamson
               “Five Post Oak Park is an ideal investment for both ‘value-add’ and ‘lease-to-core’ investors as there is significant upside potential through re-leasing 30 percent of the building when Amegy Bank’s below market lease expires,” said Hollinden. 

“Shorenstein did a remarkable job executing their capital improvement plan to the property during the course of ownership, which has solidified the building’s position at the top of the Galleria evidenced by its occupancy at 98.1%.

“Today, Five Post Oak Park is a prestigious office project located in the Galleria submarket of Houston, which has one of the best office markets and strongest regional economies in the country.”

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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