Post Oak Central three buildings sells for $232.6 Million

Cousins Properties, Inc., an Atlanta, Ga.-based real estate company, acquired Post Oak Central, a Class A office complex in the Galleria submarket of Houston, Texas, for $232.6 million from institutional investors advised by J.P. Morgan Asset Management.

Post Oak Central consists of three 24-story properties located at 1980, 1990 and 2000 Post Oak Blvd. The acquisition also included a two-acre parcel adjacent to the property that may be used for future development.

The towers were built between 1975 and 1981 and offer 1.3 million square feet, currently 92 percent leased by tenants such as Apache Corp., Stewart Information Services and GDF Suez.
According to Gellerstedt, Post Oak Central provides the company with an attractive entry into Houston’s Galleria submarket, a location it had been targeting for a while due to its solid in-place yield and significant development opportunity.

For more information on Houston office space, Houston retail space or Houston warehouse space and Houston industrial space, please call 713 782-0260 or see my web site at : www.houstonrealtyadvisors.com Thank you for your interest.

 

Regards,

Ed A. Ayres

Houston Realty Advisors, Inc.

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