Historic downtown 712 Main Street in Houston sold

HOUSTON – One of Houston’s oldest and most historic downtown buildings, 712 Main Street, has been sold to The Lionstone Group.

The 37-story, 794,186-sf office tower had been owned since 2010 by Brookfield Asset Management Inc., which invested more than $6 million in improvements. Real Estate Alert estimated in June that the sale could fetch as much as $110 million.

Including JPMorgan Chase & Co., which houses the Texas headquarters for its southwest banking operations at 712 Main, 43 tenants call the tower home. It is currently 85 percent leased.

The Art Deco skyscraper was built in 1929 and is listed on the U.S. Register of Historic Places. It was originally built for Gulf Oil and the National Bank of Commerce and was expanded in 1948 and 1950.