KBR Tower sold for $174.6M

HOUSTON – A joint venture between KBR Inc. and Brookfield Office Properties Inc. has completed the sale of the 40-story KBR Tower in Downtown Houston.

The 1.05 million-sf Class A tower at 601 Jefferson sold for $174.6 million to Corporate Property Associates 17-Global, a public, nontraded REIT affiliate of W.P. Carey Inc.

At the time of the sale, the property was 99.8 percent leased to seven tenants, of which KBR represents 87 percent on a long-term lease.