 |
| Greenway Plaza, Houston, TX |
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| 777 Main office complex, Fort Worth, TX |
HOUSTON, TX – HFF announced today that it has closed the
sale of Greenway Plaza, a 4.4 million-square-foot, Class A office
complex in Houston, Texas, and 777 Main, a 980,374-square-foot Class A
office property in Fort Worth, Texas.
HFF
marketed the properties on behalf of the sellers, who are affiliates of
Crescent Real Estate Holdings LLC.
Affiliates of Cousins Properties Incorporated purchased the assets for
an undisclosed amount.
According to HFF, the sale of Greenway Plaza is one of the largest real
estate transactions in the city of Houston in recent times.
 |
| Elizabeth Malone |
 |
| Mark Gibson |
Greenway Plaza is located adjacent to Highway 59 in Houston’s western
Inner Loop, close to the Houston Galleria, Rice University, Highland Village
Shopping Center and the affluent River Oaks residential area.
The 4.4
million-square-foot office portfolio has approximately 100,000 square feet of
retail space including an underground promenade with a food court, USPS post
office and additional retail tenants.
Greenway Plaza is 92 percent leased to tenants including
Occidental Oil & Gas, Invesco, Transocean Offshore and ExxonMobil
Corporation.
 |
| Scott Galloway |
777
Main is a 40-story office tower encompassing 980,374 square feet in the heart
of the central business district of Fort Worth, Texas.
The property is situated near Sundance Square, a 35-block
commercial, residential, entertainment and retail district.
A lobby renovation
was just completed on the 95 percent leased property, which is home to tenants
such as Jacobs Engineering, Frac Tech Services and Frost Bank.
 |
| Jeffrey A. Hollinden |
The
HFF investment sales team representing the seller was led by executive managing
directors
Mark Gibson and
Scott Galloway, senior managing
directors
Jeff Hollinden and
Trey Morsbach, director
Elizabeth
Malone and associate director
Bill Fishel.
Crescent
Real Estate Holdings LLC, headquartered in Fort Worth, Texas, is a
fully-integrated real estate company owned by Barclays Capital and Goff
Capital.
Through its subsidiaries, Crescent owns and manages premier, Class A
office buildings in Dallas, Denver and Las Vegas.
 |
| Trey Morsbach |
Crescent also holds
investments in resort residential developments in locations such as Scottsdale,
Vail Valley, and Lake Tahoe; a luxury hotel, The Ritz-Carlton, Dallas; and the
wellness lifestyle leader, Canyon Ranch®.
Cousins
Properties Incorporated is a fully integrated, self-administered and
self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA, primarily invests in Class A
office towers located in high growth Sunbelt markets, with a focus on Georgia,
Texas and North Carolina.
 |
| Bill Fishel |
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
