2200 West Loop South sold: energy supplier pays $47 million2200 West Loop South sold: energy supplier pays $47 millionhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=26442014-10-29T11:46:00Z2014-10-29T09:00:00Z

HOUSTON - Tenaris has purchased 2200 West Loop South from real estate investment firm APF Properties for approximately $47 million, or about $233 per sf. The 200,000-sf, ten-story office building is located along I-610 within the Galleria/Uptown submarket.

Fully integrated real estate investment firm APF Properties realized a 60 percent return on its 2200 West Loop South investment.

The property is in line to potentially see a bump in future value with 75 percent of the building's below-market leases slated to expire by year-end 2017. APF acquired the property in 2013 for $37 million.

Hines developed 2200 West Loop South in 1974. Renovated in 2000, the building is currently 94 percent leased to a tenant roster that includes Morgan Stanley, Parsons Engineering and White and Mackillop & Baham, according to CoStar information.

CoStar Group
Houston-The Woodlands-Sugar Land
http://www.costar.com/News/Article/Tenaris-Goes-from-Tenant-to-Owner-with-2200-West-Loop-South-Acquisition/165464Read more at {Source}

 Search NewsTalk Texas