HOUSTON-Broadway Partners LLC has entered into an agreement to sell the 608,622-sf One City Centre. The company, which acquired the class A office building in February 2007, began marketing the building while negotiating a 181,000-sf lease renewal for one of its main tenants, Waste Management Inc.

The sales price isn’t available. However, sources point out that Broadway Partners spent $115 million to acquire the class A, 31-story building at 1021 Main St. The Harris Central Appraisal District has 1980-era building assessed at $107.4 million.

Robert Williamson, managing director in Holliday Fenoglio Fowler LP’s Houston office, expects the deal to close by the end of June. He says the buyer is assuming Broadway’s financing, but the identity is being kept under wraps until the deal is done. All that he’ll say is “the buyer is an out-of-town buyer with other assets in the area.” The HFF marketing team included managing director Jeffrey Hollinden and associate director Barbara Guffey.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.