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1.2M-SF Marathon Oil Tower sale takes a hit1.2M-SF Marathon Oil Tower sale takes a hithttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=191102018-02-12T06:00:00Z2018-02-12T23:00:00Z

​​​CBRE Global Investors took a $70 million hit after completing its sale of the Marathon Oil Tower to Baupost Group and local firm M-M Properties for $175 million. HOUSTON – CBRE Global Investors (CBG) took a $70 million hit after completing its sale of the Marathon Oil Tower to Baupost Group and local firm M-M Properties.

The nearly 1.2 million-sf, 41-story, Class A office tower sold for $175 million, or approximately $146 per sf.

​Marathon Oil Tower is located at 5555 San Felipe St. in Houston's Galleria and is 90 percent leased. 

CBG paid nearly $245.5 million for the office tower that serves as Marathon Oil Corp.'s global headquarters in late 2013. 

CoStar Group
Houston-The Woodlands-Sugar Land
Office
http://www.costar.com/News/Article/CBRE-Global-Investors-Sells-Marathon-Oil-Tower-at-Substantial-Discount/198057Read the full article at {Source}

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