HOUSTON–BBVA Compass Plaza, a class AA office building totaling 326,200 square feet in the Galleria submarket has been sold.
HFF marketed the asset on behalf of the seller, a joint venture partnership between Stream Realty Partners LP,TRC Capital Partners (formerly The Redstone Cos.) and an institutional client of L&B Realty Advisors LLP.Masaveu Post Oak Houston Delaware LLC purchased BBVA Compass Plaza for an undisclosed amount.
Completed in 2013, BBVA Compass Plaza is a LEED Gold Certified, 22-story, podium-style building that is 83 percent leased. BBVA Compass Bank occupies 58 percent of the net rentable area, and the remaining tenants are a mix of national and international firms that are drawn to the property’s walkability in the Galleria area of Houston and its 24/7 environment.
The property features a 1,144-space parking garage, a full retail bank branch, fitness center and two upscale restaurants, Caracol and Oka Sushi. [GlobeSt]
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