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| Westchase Park, Houston, TX |
HOUSTON, TX – HFF announced today that it has closed the
sale of Westchase Park, a 272,361-square-foot, newly-built, Class A,
core trophy office building in Houston’s Westchase District.
HFF represented the seller,
Simmons Vedder Partners and O’Connor Capital Partners, in the sale of the
property to Clarion Partners.
 |
| Rusty Tamlyn |
The buyer
also purchased seven acres of land adjacent to the site for a future office
development project as part of this transaction.
Westchase Park is located at 3700 West Sam Houston Parkway between
Richmond and Westpark Drive close to Westpark Tollway, U.S. 59 and Interstate
10. The six-story property is LEED gold
certified and is 98.4 percent leased to eight tenants including ABB and
MetLife. 52 percent of the tenants are
investment grade tenants with an average lease term of eight years
remaining.
 |
| Jeffrey Hollinden |
Building amenities include a
fitness center, 24-hour security, a large building conference room and a
1,089-space parking garage.
The
HFF investment sales team representing the seller was led by senior managing
directors Rusty Tamlyn and Jeff Hollinden, and associate director
Trent Agnew.
“Clarion has been an active player in major U.S. markets, including
Houston, for many years, amassing a diverse portfolio of assets across the
risk/return spectrum,” said Tamlyn.
 |
| Trent Agnew |
O’Connor Capital Partners is a privately-owned, independent real estate
investment and development firm focused on principal investing through private
equity funds. O’Connor concentrates its
efforts on making direct investments in high-quality assets in major
metropolitan markets in North America.
Clarion Partners has been a leading U.S. real estate investment manager
for over 30 years. Headquartered in New York, the firm has offices in major
markets throughout the U.S., in S͠ão Paulo, Brazil and London, England as well
as a presence in Mexico.
With more than
$25 billion in total assets under management, Clarion Partners offers a broad
range of real estate strategies across the risk/return spectrum to its more
than 200 domestic and international institutional investors. More information about the firm is available
at www.clarionpartners.com.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 |
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