Parkway set to buy Phoenix Tower in N. HoustonParkway set to buy Phoenix Tower in N. Houstonhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=88512012-12-05T07:14:00Z2012-12-05T00:00:00Z

HOUSTON - Parkway Properties is set to purchaseĀ the 626,000-sf Phoenix Tower, a 26-story office building at 3200 Southwest Fwy. in the Greenway Plaza area, from FSP Phoenix Tower Limited Partnership, an affiliate of Franklin Street Properties.

Parkway will pay $124.5 million, or $199 per sf for the building, which is 84.5 percent leased. The deal expected to close by the end of the year.

The building was completed in 1984 and renovated in 2011.

The deal follows the Franklin Street Propertiesā€™ recent acquisition of Westchase I and Westchase II sister office buildings in the 10300 block of Richmond Avenue from Granite Properties for $154.8 million, as reported in November 2012.

Parkway Properties owns more than 1.5 million sf of office property locally, with buildings in Greenspoint, Sugar Land, west Houston and the Energy Corridor.

Houston Chronicle
Houston-The Woodlands-Sugar Land
http://blog.chron.com/primeproperty/2012/12/phoenix-tower-office-building-under-contract/Read more at {Source}

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