Search
 

Texaco Heritage Plaza Sale Stalls; No Takers for $200 Million Asking Price

HOUSTON-The Michigan Employees Retirement System is pulling the rug on a proposed sale of the 1.2 million-sf Texaco Heritage Plaza in the city's downtown sector. No takers appear willing to pay the expected price of $200 million or more.

By Connie Gore | Updated on August 30, 2000

A program to sell the 1.2 million-sf Texaco Heritage Plaza building in downtown Houston has been halted after building offers did not match the expectations of the owners, the Michigan Employees Retirement System fund.

The building was expected to bring in offers of $200 million or more, but there were no buyers who stepped forward to pay that price. Holliday Fenoglio Fowler has been marketing the property for several months. The building, located at the intersection of Bagby and Dallas Sts., was built in 1986.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.