The 40-story, 1.2-million-sf building comes to Intell with four 53,500-sf trading floors, two designated data center floors and nearly 800,000 sf of slab space. Senior managing director, Jim Savage and senior director Jeff Hollinden of Holliday Fenoglio Fowler LP's Houston office marketed the property. Holliday's executive managing director in the Dallas office, Mark Gibson also worked on the deal. Darren Inoff of the Houston law firm of Andews & Kurth LLP served as Enron's outside counsel on the transaction.
"I think this represents a turning point in the downtown Houston marketplace," said Hollinden in a prepared statement. "The sale of Enron Center South to a qualified, responsible buyer eliminates the blanket of uncertainty that surrounded this asset for the past year or so."
The line for Enron creditors wanting to claim the sale proceeds includes $3 million in back taxes owed to municipal authorities in Houston. In the fall, Intell outbid Fort Worth's Crescent Real Estate Equities, Dallas' Lincoln Property Co. and a Houston trio of bidders, Hines Interests, Boxer Properties and Transwestern Commercial Services. For previous story, click here.
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