The 28-story building and 1,673-space parking garage at 4400 Post Oak Pkwy. were put on the market at the beginning of the year by the joint venture owners, Crescent Real Estate Equities Ltd. and General Electric Pension Trust. The high rise's occupancy stands at roughly 91%. Managing directors Jeffrey Hollinden and Robert Williamson, executive managing director Scott Galloway and associate director Barbara Guffey with Holliday Fenoglio Fowler LP in Houston represented the seller.
Although the sale price wasn't revealed for the 1980s building, area sources report the transaction represents the highest price per sf to date for office buildings sold in the Galleria, trumping that of the 1.47-million-sf Williams Tower at 2800 Post Oak Blvd., which is under contract for $271.5 million. Williams Tower is less than 1.5 miles southwest of Five Post Oak Park.
Last fall, Shorenstein Properties acquired the 356,750-sf building at 2000 W. Loop South, also in the Galleria submarket. Five Post Oak Park is situated within one mile of its Loop South building.
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