919 Milam Comes to Market Stable,with Upside

HOUSTON-In 2010, at what could be considered the height of the economic downturn, Fort Worth-based M-M Properties acquired 919 Milam for close to $60 million in an all-cash transaction.  At the time, the iconic downtown office building was 76% leased.

A little more than two years later, M-M Properties has decided to put the 543,259-square-foot office building on the sales block. The occupancy currently stands at approximately 94% and, according to CBRE’s Jared Chua, who is helping to market the building, the seller felt that with the building’s location, stabilization and renovations to the tune of $4 million, it was an ideal time to introduce the more than 50-year-old building to a group of possible new owners.