HOUSTON—1111 Fannin is a 17-story 428,629-square-foot office tower located in Houston's central business district. This CBD location was one of the key investment points for Triten Real Estate Partners and Taconic Capital Advisors, which recently purchased the asset for an undisclosed purchase price.

"1111 Fannin represents one of the best redevelopment opportunities in downtown Houston," says Scott Arnoldy, managing partner at Triten Real Estate Partners. "The project is well-located within the CBD, has direct access to the tunnel system and is steps away from an incredible slate of amenities, including Discovery Green, the Four Seasons Hotel and the Green Street development. More importantly, our basis will allow us to offer a completely unique experience at a dramatic discount to current market rents. It's also an attractive option for any user looking to control their own environment."

1111 Fannin, which is 100% leased to a single investment-grade tenant, features a podium-style design with center-core floor plates that average 31,500 square feet.

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Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.