HFF closes sale of Park on the Bayou in Houston, TX

HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.)  has closed the sale of Park on the Bayou (top left photo), a 159,563-square-foot office property plus five-story, 486-space parking garage in Houston, Texas.

HFF senior managing director Rusty Tamlyn (middle right photo) and real estate analyst Trent Agnew represented the seller, ING Clarion Partners. 

 Boxer Management Corporation purchased the property for an undisclosed price on an all cash basis.

Park on the Bayou is located at 2500 East T.C. Jester Boulevard just south of Loop 610 about four miles north of the Galleria area of Houston.  The five-story property, which is now 100% vacant, was most recently leased to the Federal Bureau of Investigation (FBI) for more than 16 years.

“Purchasing the property fully vacant allows the new owner to have flexibility in lease-up and either hold out for a single-user or reconfigure the space for multi-tenant use,” said Tamlyn.

ING Clarion is the Americas investment management arm of ING Real Estate Investment Management, assembling and managing portfolios of real estate assets for institutional and individual investors. 

Boxer Management Corporation was founded in 1992 to manage, lease, renovate and administer closely held commercial properties from acquisition through disposition

Contacts:                      

 Rusty Tamlyn, CCIM, SIOR, HFF Senior Managing Director, (713) 852-3500,  rtamlyn@hfflp.com
                                                                                                                    Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500,

krmurphy@hfflp.com