The 1980s-era building, located at 4400 Post Oak Pkwy. in theGalleria, is 91.4% occupied, with its lead tenant Amegy Bank onboard for 10 years. "The Galleria is strong right now and rentshave gone a ways up," says Jeffrey Hollinden, managing directorwith Holliday Fenoglio Fowler LP's Houston office.

The investment sales broker tells GlobeSt.com that the asset'scurrent net rents are up to 50% below market, much like othertrophy assets in the submarket. Additional value-add is embedded intwo vacant floors in the 28-story building, which is free and clearof debt.

Hollinden says Five Post Oak Park, which sits on 3.6 acres, isliable to attract interest from institutional investors because ofHouston's continuing strong fundamentals. "A lot of national andinternational investors are looking at Houston now and areespecially looking at trophy buildings like this one," he says. Inrecent months, other class A buildings have fetched $225 per sf to$250 per sf.