HFF announces sale of 1001 McKinney in downtown Houston, TX

1001 McKinney Office Tower,
Downtown Houston, TX

H. Dan Miller

HOUSTON, TX –– HFF announces the sale of 1001 McKinney, a 23-story, 375,440-square-foot office building in Houston’s central business district (CBD).

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. 

Marty Hogan

1001 McKinney was constructed in 1947 and is a historic landmark on the National Register of Historic Places.  

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.

Johnny Kight

The HFF investment advisory team representing the seller included senior managing director H. Dan Miller, senior director Marty Hogan and real estate analyst 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.  

Steve Lerner

Silverpeak Real Estate Partners is a privately-held real estate investment and advisory business headquartered in New York, with additional offices in Atlanta and London. 

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

krmurphy@hfflp.com

www.trccapitalpartners.com.
:www.cameronmanagement.com.