Houston High-Rise Trades to Private New York Investment Firm

Broadway Partners purchased the One City Centre office tower, at 1021 Main St. in Houston, from AEW/McCord Development for $115 million, or $193 per square foot. The 594,595-square-foot, 29-story tower is in Houston's Central Business District. The property underwent a major renovation in 2000 that upgraded lobbies and common areas, fiber-optic connectivity and communication systems, and added new street tunnel retail space. "This is a well-located asset in a thriving market -- it presents considerable strategic opportunity for us and our investors," said James Hennessy, director of acquisitions for Broadway, the privately held real estate investment and management firm headquartered in New York. Eric Anderson and David Baker of Transwestern will handle leasing for Broadway. Joyce Harberson of the Navisys Group will continue to handle property management. There were no brokers involved in the transaction. Please refer to CoStar Comp #1212890 for further details. For more information see ; www.houstonrealtyadvisors.net