HOUSTON-A Canadian real estate investment trust is buying Hess Tower, 845,000-square-foot office building at 1501 McKinney St. in downtown Houston, for $445 million. Current owners Principal Real Estate Investors and Trammell Crow Co. have agreed to sell the 29-story tower to H&R Real Estate Investment Trust for $527 per square foot.
Hess Corp., an energy firm, is the only tenant in the skyscraper. CBRE Group Inc. is marketing the building. For the full story, go to Houston Business Journal .
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