Wednesday, August 27, 2014

HFF closes sale of Lakes on Post Oak office building in Houston, TX


Jeffrey Hollinden
HOUSTON, TX – HFF announced it has closed the sale of 3040 Post Oak Boulevard, a 427,486-square-foot, Class A core office building in Houston adjacent to the Galleria.

               HFF marketed the property on behalf of the sellers, a joint venture between an affiliate of Five Mile Capital Partners LLC and Crocker Partners.  MetLife Real Estate Investors purchased the property for an undisclosed amount.

3040 Post Oak Boulevard is located at the intersection of Post Oak Boulevard and Hidalgo in Houston’s Galleria/Uptown District.

 The 22-story building is part of the 1.2 million-square-foot Lakes at Post Oak office complex that includes 3050 Post Oak Boulevard, and also 3000 Post Oak Boulevard plus a 3.86-acre unrestricted development site, which HFF is also marketing for sale.

Dan Miller
 The building features exterior walls of bronze glass and aluminum and has views of the four-acre lake that weaves through the heavily-landscaped complex.  3040 Post Oak Boulevard is a past recipient of The International Office Building of the Year by the Building Owners and Managers Association. 

The property is approximately 80 percent leased to 25 tenants, including Bechtel Corporation, Carriage Services and Wealth Design Group.  

               The HFF investment sales team representing the seller was led by senior managing directors Jeff Hollinden and Dan Miller and director Trent Agnew.

“Lakes on Post Oak has been a very successful project for Five Mile Capital and Crocker Partners due to its location, access and park-like setting within the Galleria submarket,” Hollinden said.

 “The 3040 Post Oak Boulevard building has a great mix of long-term leases and near-term upside potential that will make this an ideal core investment.”


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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