Aug
10
Insite Pays $28M for Houston Office Asset
ByThe 160,407-square-foot office property was completed by KDC in 2006 as the third in a series of speculative office buildings located in Tampa, Atlanta and Houston.
Lincoln Financial Group recently sold Intellicenter, a Class A office asset located in Northwest Houston, in a transaction valued at $28.6 million.
HFF negotiated the sale on behalf of the seller. The brokerage services firm also procured the buyer, Michigan-based Insite Commercial Real Estate. The property was sold free and clear of financing.
“Value-add office opportunities like Intellicenter are generating a lot of interest from both long-time Houston investors as well as new sources of capital, and as a result the deal generated 12 offers,” said Trent Agnew, senior director at HFF, in prepared remarks…
