HFF closes sale of Energy Crossing in Houston, TX

HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of Energy Crossing (top left photo), a 239,166-square-foot, Class A office building in Houston’s Energy Corridor submarket.

HFF senior managing director Dan Miller (top right photo) and real estate analyst Trent Agnew, along with Adam Jackson and Stewart Lyman of Stream Realty Partners, represented the seller, M&I Bank. 

Lincoln Property Company, on behalf of a public pension fund client, purchased the property for an undisclosed amount free and clear of debt. 

“HFF received an overwhelming response to the offering of Energy Crossing, conducting more than 40 tours and receiving more than 35 offers,” said Miller.  “The buyer pool consisted of high-net worth and institutional opportunistic investors.”

Completed in 2009, Energy Crossing has six floors of office space plus a 900-space, four-story parking garage.  The property is currently in lease up with two tenants in occupancy; KBC Advanced Technologies and Electromagnetic Geoservices ASA.

 Energy Crossing is situated on 5.3 acres on the south side of Interstate 10 at Highway 6 in Houston’s Energy Corridor.  In addition, the sale consisted of 5.5 acres of unimproved land adjacent to the building that is designed for additional office space as well as a 1.2 acre retail parcel. 

Founded in 1847, Marshall & Ilsley Corporation (NYSE: MI) is a diversified financial services corporation headquartered in Milwaukee, Wisconsin with $53.9 billion in assets.  

Lincoln Property Company is one of the oldest and largest comprehensive, vertically integrated real estate firms in the United States.  Founded by Mack Pogue in 1965, Lincoln has grown to nearly 5,000 employees in more than 30 states and 200 cities.

Stream Realty Partners, L.P. is a full service real estate investment, development and services company.  Since its formation in 1996, Stream Realty has grown from its two original partners to a staff of over 300 real estate professionals.

 For more information, visit Stream’s website at http://www.streamrealty.com/.

Contacts:  

H. Dan Miller,CCIM, SIOR, HFF Senior Managing Director,  (713) 852-3500, dmiller@hfflp.com

 Kristen M. Murphy, HFF Associate Director, Marketing,                                 (713) 852-3500,  krmurphy@hfflp.com