Invesco Snags Williams Tower for $412M

HOUSTON-The speculation has ended as Hines Real Estate Investment Trust Inc. closed on the sale of the 1.4-million-square-foot Williams Tower for $412 million. A fund managed by Invesco Real Estate ended up with the office asset in what is being dubbed as the largest area sale outside the CBD.

Hines’ headquarters is at the class A trophy asset, which is located at 2800 Post Oak Blvd. in the Galleria submarket. Hines REIT had acquired the asset, once known as Transco Tower, in 2008 for $272 million. Hines will continue managing the building, which is 95% leased to tenants including Rowan Cos., Quanta Services and Cadence Bancorp. At 909 feet and 64 stories, Williams Tower is the tallest office building outside of a CBD.