The Dallas-based buyer, Granite Properties, and seller, PrentissProperties aren't saying what was exchanged this week at theclosing table. But, Granite managing director Scott Martin issaying "it was much lower than $70 million." For previous story,click here.
The 12-story office building at 10777 Westheimer Rd. is assessedat $41 million by Harris County. The class A office asset, boughtat 82% occupancy, sits in a submarket with a wide range of pricesfor comparable product. In April, a 224,456-sf office buildingalong Westheimer Road brought $107 per sf while another Q2 salefetched $167 per sf for the nearby 1255 Enclave Parkway.
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