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Clarion Picks Up Westchase Park in Houston

JV Sells 272,361-SF Office Property, Adjacent Development Site
December 6, 2012
Clarion Partners purchased Westchase Park, a six-story, 272,361-square-foot office building in Houston. Simmons Vedder Partners and O’Connor Capital Partners sold the property for an undisclosed price.

The deal also included an additional 7 acres adjacent to the site for a future office project.

“Our research has documented strong demand for office space in this submarket,” said Brian Watkins, a managing director of Clarion and the lead acquisitions officer for Westchase Park. “There is limited comparable competitive space in the area, and several global tenants have announced plans to locate in Westchase Park. We intend to take advantage of this demand by constructing another comparable building on the additional land.”

Built in 2009, Westchase Park is a Class A structure on 8.2 acres at 3700 W. Sam Houston Parkway S. It also has a 1,089-space parking garage. The asset is LEED Gold certified and is more than 98 percent leased to an eight-company roster that includes ABB and MetLife.

Rusty Tamlyn, Jeff Hollinden and Trent Agnew of HFF represented the sellers.

See CoStar COMPS #2611803 for more information.
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