HOUSTON--A 427,486-square-foot Class A office building in the Galleria corridor has been sold by HFF.
HFF marketed Lakes on Post Oak, located at 3040 Post Oak Blvd., on behalf of the sellers, a joint venture between an affiliate of Five Mile Capital Partners LLC and Crocker Partners. MetLife Real Estate Investors purchased the property for an undisclosed amount.
“Lakes on Post Oak has been a very successful project for Five Mile Capital and Crocker Partners due to its location, access and park-like setting within the Galleria submarket,” said led by senior managing director Jeff Hollinden in a press release. “The 3040 Post Oak Boulevard building has a great mix of long-term leases and near-term upside potential that will make this an ideal core investment.”
Positioned at the intersection of Post Oak Boulevard and Hidalgo Street in Houston's Galleria/Uptown District, the 22-story building is part of the 1.2 million-square-foot Lakes at Post Oak office complex that includes 3050 Post Oak Boulevard, and also 3000 Post Oak Boulevard plus a 3.86-acre unrestricted development site, which HFF is also marketing for sale.
Standout building features include exterior walls of bronze glass and aluminum, and it has views of a four-acre lake. A past recipient of The International Office Building of the Year by the Building Owners and Managers Association, the property is approximately 80 percent leased to 25 tenants, including Bechtel Corp., Carriage Services and Wealth Design Group.
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