| Piedmont profits $31M on Energy Corridor property | Piedmont profits $31M on Energy Corridor property | https://www.recenter.tamu.edu/news/newstalk-texas/?Item=7472 | 2014-06-25T15:42:00Z | 2013-05-03T10:00:00Z |
HOUSTON - Piedmont Office Realty Trust sold 1200 Enclave Pkwy. for $48.75 million, or $326 per sf. The Griffin Capital Corporation, on behalf of Griffin Capital Essential Asset REIT Inc., purchased the 149,683-sf property which was constructed in 1999 and is situated on 5.36 acres.
Today it is 100 percent leased to Schlumberger Technology Corporation through 2024. Annualized rent is $2.9 million or $19.94 per sf.
Piedmont acquired the Class A asset, located in the heart of the Energy Corridor submarket, in March 2011 for $18.5 million, or $124 per sf, when it was 18 percent leased.
Source: Piedmont Office Realty Trust
| Company News Release
| Houston-The Woodlands-Sugar Land
| Office
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