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| 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 | www.hfflp.com
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