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Lowe, Buchanan Acquire 406,415-SF 3D Tower

HOUSTON-Lowe Enterprises and Buchanan Street Partners buy the class A tower from Transwestern Investment, opening the play with a plan to put $1.5 million into upgrades.

By Amy Wolff Sorter | Updated on October 08, 2007

HOUSTON-Lowe Enterprises Real Estate Group and Newport Beach, CA-based Buchanan Street Partners, teaming for the first time, have acquired the 404,415-sf 3D/International Tower, a class A building in the Galleria submarket. Comparable recent sales have brought $120 per sf to $125 per sf in the region.

Transwestern Investment Co. LLC of Chicago is the seller of 1900 W. Loop South, assessed at $42 million by Harris County. The final price of the 90%-leased high rise is not readily available due to Texas’ non-disclosure law.

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