Capital snags Houston Schlumberger buildingCapital snags Houston Schlumberger buildinghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=74192013-05-13T07:34:00Z2013-05-12T00:00:00Z

HOUSTON - Griffin Capital Corp. has acquired the five-story, 149,683-sf office building at 1200 Enclave Pkwy. from Piedmont Office Realty Trust for $48.75 million, or about $325 per sf.

Built in 1999 in the Enclave Business Park, the building is fully-leased with the majority of space (97 percent) leased to Schlumberger Technology Corp., a subsidiary of Schlumberger Ltd.

The building serves as Schlumberger's financial operations center and is located near the company's corporate headquarters in the Galleria submarket and a global R&D facility in Sugar Land, Texas. It is one of only two financial hub sites the company has worldwide.

With the acquisition, Griffin Capital's Essential Asset REIT has a portfolio of 17 office and industrial/distribution properties totaling 3.8 million sf.

Read more at CoStar Group.

CoStar Group
Houston-The Woodlands-Sugar Land
http://www.costar.com/news/article/griffin-capital-buys-schlumberger-technology-building-in-houston/148329Read more at {Source}

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