Columbia sells three Houston office properties for $272m
Columbia Property Trust has exited the Houston market with the sale of three office properties to Spear Street Capital for $272 million.
The assets, which total approximately 1.2 million square feet, comprise 5 Houston Center, Energy Center I and 515 Post Oak Blvd.
The 5 Houston Center property includes 581,000 square feet of office space connected to the city’s skywalk system. Ernst & Young is one of the largest tenants in the 27-story office tower, which was built in 2002 and has been owned and managed by Columbia since 2005.
Energy Center I comprises of 332,000 square feet. The building, which houses the Americas headquarters of Amec Foster Wheeler, a global engineering and construction contractor, was built in 2008 and purchased by Columbia in 2010.
The property at 515 Post Oak Blvd. is a 12-story, 274,000-square-foot office building located in Houston’s Galleria submarket. Columbia purchased the building in 2004. Tenants