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| 1001 McKinney Office Tower, Downtown Houston, TX |
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| H. Dan Miller |
The HFF team
represented the seller, a partnership between Cameron Management and Silverpeak
Real Estate Partners, and procured the buyer, a partnership between TRC Capital
Partners LLC, and Amstar America LLC.
Situated on the
corner of McKinney and Main in the heart of Houston’s CBD, 1001 McKinney is
convenient to the city’s METRO Light Rail, Greenlink Bus System and the city’s
highway system, including Interstates 10, 45 and 69.
Additionally, the property is linked to the underground tunnel
system, which connects 95 full city blocks and offers more than 400,000 square
feet of retail and restaurant space in a climate-controlled, subterranean
environment.
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| Marty Hogan |
The LEED Gold and Energy Star-rated building was recently renovated and offers tenants an attached, 2.0/1000 parking garage, on-site conference facility, bike room with showers and direct access from the lobby to Morton’s Steakhouse.
1001
McKinney was 76% leased at closing providing the buyer with immediate upside
through the lease up of vacant space and raising in place rental rates to
market.
“We strongly believe
in the Houston CBD and have been looking for several years at historic buildings
that offer compelling value for both tenants and our investors,” commented Steve
Lerner, President and CEO of TRC Capital Partners.
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| Johnny Kight |
Holliday GP Corp.
("HFF") is a Texas licensed real estate broker.
Cameron Management is a
Houston-based real estate company focused on bringing value to its tenant base
through effective on-site management as well as to the company at large.
The Cameron Management concept is to house all functions of owning and managing a commercial office property under one umbrella: ownership, property management, leasing and engineering.
The Cameron Management concept is to house all functions of owning and managing a commercial office property under one umbrella: ownership, property management, leasing and engineering.
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| Steve Lerner |
Since its formation in 2010, Silverpeak, together with investment partners, has acquired over $15 billion of gross asset value in 180 transactions across various property types and U.S. geographic regions.
In addition, Silverpeak actively manages over $2.4 billion in gross asset value on behalf of three opportunistic real estate private equity funds (as of March 31, 2018).
For more information, please contact:
KRISTEN MURPHY
HFF Director, Public
Relations
(617) 338-0990
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