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Two-Building Eldridge Place Reportedly Draws $50 Mil for Seller

HOUSTON-The 519,000-sf, two-building Eldridge Place reportedly brings in $50 million for Allied Waste Industries, which has sold the former world headquarters for a firm it acquired last year. An Atlanta-based investment group is the new owner.

By Connie Gore | Updated on October 16, 2000

HOUSTON-The Brookdale Group, LLC, a privately held commercial real estate investment firm based in Atlanta, has purchased a two-building office project in the Energy Corridor sector of west Houston.

The property, which includes 519,000 sf of office space, has been sold for approximately $50 million, according to people familiar with the transaction. The buildings, Eldridge Place One and Eldridge Place Two, have been purchased from Allied Waste Industries of Scottsdale, AZ. The project had been the world headquarters of Browning Ferris Industries, a waste disposal firm that was purchased by Allied Waste in July 1999.

Tenants in the complex include PricewaterhouseCoopers, Paine Webber, Bank of America and the world headquarters of Global Marine, an offshore drilling company. The buildings are located at the corner of Eldridge Parkway and Memorial Drive. This section of Houston, near Interstate 10 West and Eldridge Parkway, is called the Energy Corridor due to a large concentration of offices for energy companies, including Shell Oil Co., Conoco and BP Amoco.

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