HOUSTON-CBRE has completed the sale of the TGS-NOPEC U.S. corporate headquarters building to Cole Corporate Income Trust, Inc. This class A, build-to-suit office located in Houston's West Belt Corridor is a three-story building with 97,501 rentable square feet and 410 on-site parking spaces.
Bernard Branca and Jared Chua of CBRE arranged the transaction on behalf of the seller, Crimson Real Estate Advisors, LP.
Completed in October 2013, the building is 100% leased to TGS-NOPEC Geophysical Company through 2025. “Investors were attracted to this asset due to its recent construction, exceptional location and long-term cash flow,” said Branca, SVP of CBRE. “This is a best-in-class asset, with very efficient floor plates averaging 32,500 square feet and an 8.0-acre site that permits future expansion potential.”
The TGS-NOPEC headquarters building is highly accessible via Beltway 8, U.S. Highway 290, and Interstate Highway 10. Positioned within the west Houston growth corridor, TGS-NOPEC is surrounded by dynamic, growth-oriented companies including Allstate, Cameron International, GE Oil & Gas, Mariner Healthcare, National Oilwell Varco, Travelers Insurance, and Walgreen Co.
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