Cousins Buying Houston, Fort Worth Office Portfolio
HOUSTON (RealtyNewsReport) – Cousins Properties has signed an agreement to purchase an office portfolio totaling nearly 5.4 million sf in Houston and Fort Worth.
The Atlanta-based firm will pay $1.1 billion for the properties. The seller is a joint venture operated by Crescent Real Estate Holdings LLC.
The largest property is the ten-building, 4.4 million-sf Greenway Plaza, along SW Fwy. near Buffalo Speedway. It is 92 percent occupied. Among the tenants are Occidental Oil & Gas, Transocean, Direct Energy, WT Offshore, Invesco and Parker Drilling.
Also included is the 980,000-sf, Class-A 777 Main Street building. The 40-story tower is 72 percent leased.