HOUSTON, TX – HFF announced today that it has closed the sale of The Plaza at Enclave (total left photo), a 344,295-square-foot, Class A office building in Houston’s energy corridor submarket.
HFF marketed the property on behalf of the seller, Core Real Estate and BayNorth Capital LLC. An affiliate of Azrieli Group, a real estate investment and development company based in Tel Aviv, purchased The Plaza at Enclave free and clear of existing debt.
HFF also arranged acquisition financing for the buyer through Cornerstone Real Estate Advisers, MassMutual’s real estate investment subsidiary.
Completed in 2008, The Plaza at Enclave is 100 percent leased to Dow Chemical Corporation as their regional headquarters as well as Ridgewood Energy, Petrofac and HRT America.
Dow occupies 86 percent of the building under a long-term lease. The six-story building is LEED Gold Certified and has a six-story, 1,434-space attached parking garage. The property is situated on 7.97 acres at 1254 Enclave Parkway close to Interstate 10 and Highway 6 in west Houston.
The HFF investment sales team representing Core Real Estate was led by senior managing directors Dan Miller (top right photo) and Rusty Tamlyn (lower left photo) and associate director Trent Agnew.HFF’s debt placement team representing an affiliate of Azrieli Group was led by managing director Matt Kafka and senior managing director Wally Reid.
“This is one of the finest office buildings if not the finest, office building in west Houston,” said Miller.
Contacts:
DAN MILLER, CCIM, SIOR RUSTY TAMLYN, CCIM, SIOR
HFF Senior Managing Director HFF Senior Managing Director
(713) 852-3500 (713) 852-3500
KRISTEN MURPHY
HFF Associate Director, Marketing
(713) 852-3500
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