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HOUSTON-Local company Cameron Management widened its Texas footprint with the acquisition of the 373,757-sf 1001 McKinney in Houston’s CBD. In a separate deal, the buyer also claimed the 179,775-sf Energy Plaza I and II in San Antonio.

The building 1001 McKinney, at Main Street Square, is assessed by the Harris Central Appraisal District at $26.7 million, and similar Downtown buildings have traded between $80 and $125 per sf. The seller was USAA in San Antonio.

Energy Plaza I and II, at 8610 and 8620 N. New Braunfels Ave., are assessed at approximately $12.6 million by the Bexar Appraisal District. The seller was State of Wisconsin Investment Board in Madison, WI. Cameron’s purchase prices were not disclosed.

Dougal Cameron, CEO of the buying company, says both acquisitions are representative of his platform, which is to acquire well-located, class B buildings and cater to tenants that might use between 1,000 sf and 2,000 sf. “A big tenant for us might be 30,000 sf,” he says. Cameron adds that little work is anticipated on either asset, and the goal is to find class A tenants who want quality space at a reasonable price.

Cameron Management currently has 1.5 million sf of office space in Houston and San Antonio. Cameron tells GlobeSt.com that his company will close on two more assets by the end of January–one in Houston and one in San Antonio. “We’re opportunistic driven,” he comments. “A deal has to make sense for us before we’ll look at it. We’re not on any kind of buying plan; when we find something that works, then we’ll buy it.”

Built in 1947 and renovated in 1999 to the tune of $19 million, 1001 McKinney is 87% leased. Rusty Tamlyn, senior managing director, Robert Williamson, managing director and Barbara Guffey, associate director with Holliday Fenoglio Fowler LP’s Houston office represented USAA.

Energy Plaza I & II were built in 1980 and 1982 are 90% leased. Todd Mills, SVP with CB Richard Ellis’ San Antonio office, represented the State of Wisconsin Investment Board. Cameron Management represented itself in both transactions and will handle leasing and property management for both assets.

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