Built in 1981 and renovated in 1989, the 363 North Belt is a 386,277-sf, 19-story office tower near George Bush Intercontinental Airport. The lease expansion by the building's largest tenant can only bode well for the efforts by Insignia/ESG and Holliday Fenoglio Fowler LP to sell the building on behalf of building owner, Lend Lease Real Estate Investments. Jim Savage and Jeff Holliden of the Houston office of Holliday Fenoglio Fowler are marketing the building for $36 million or $93.20 per sf.
Jerald King of Insignia/ESG's Houston office represented the building owner in the lease expansion. George Carpenter of Carpenter Realty represented Newfield in the negotiations. The tenant roster in the 86%-occupied building also includes PD Holdings, Chrysler Motors Corp. and Ford Motor Credit.
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