Duke Energy HQ Sells to L.A. Investor for $85M

HOUSTON-CBRE Investors/Global Net Lease Partners of Los Angeles has sold the class A corporate headquarters of Duke Energy Corp. for $84.6 million after owning it for a little more than one year.

Situated on 6.4 acres at 5400 Westheimer Court, the 614,000-sf, nine-story office building was purchased by 5400 Westheimer Holding LP, a private investor from Los Angeles. It is net leased to Duke Energy for the next 15 years.

“We received multiple offers for the building, which is a zero-cash property,” says John Glassmoyer, a senior vice president with CB Richard Ellis Inc.’s Phoenix office, tells GlobeSt.com. The CBRE team running the deal included H. Dan Miller in Houston, Russell Ingrum in Dallas and Jeffrey Thomas in Seattle.