HOUSTON-Wedge Commercial Properties Corp., based here, has purchased a 12-story parking garage in the heart of Downtown Houston.The garage, located at 777 Clay, covers approximately one-half of a block. Wedge purchased the garage from LaSalle Investment Management. The CB Richard Ellis real estate firm brokered the transaction.

The garage contains 1,100 parking spaces, some of which lease for more than $200 per month. The garage is located near the Wedge International Tower, a 500,000-sf building at 1415 Louisiana. Wedge’s office tower is approximately 90% leased.

Wedge has announced long-range plans to construct a 30-story office tower adjacent to the Wedge International Tower. The garage’s acquisition contributes an additional amenity in the plans for the new building, which is more than a year away from a ground-breaking.

Finding customers for the parking garage is not a problem. Nearby, Hines Interests is developing a major office tower, the 40-story headquarters of Enron Corp.

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