The seven-year-old building, situated on nearly 11 acres at15115 Park Row, is assessed at $18.6 million by Harris County.Local experts say similar buildings are trading for $150 per sf to$175 per sf. Dallas-based Stream's local team assumed the leasingand management duties from Granite. Details about the sale wereunavailable by deadline.

Preston Young, co-managing partner with Stream's Houston office,says the 100%-leased building has good upside potential in itslease rates. The building delivered in 2000; leases will begin toroll in 2009. Young stresses it's important to ensure new leasesare reflective of the current market. Local market reports putEnergy Corridor rates at $26.04 per sf and vacancy at 7.8% for the16.4-million-sf inventory.

"Due to the appreciation the market has seen during the pastcouple of years, any lease set prior to that point obviously lendsitself for major value enhancement," Young tells GlobeSt.com.