HOUSTON – April 6, 2015 –CBRE Capital Markets’ Office Investment group announces the sale of 1000 Main, a trophy Class AA office tower located at the epicenter of the Houston Central Business District. Built in 2003, 1000 Main is comprised of a 36-story office tower with 836,015 rentable square feet.
Union Investment Real Estate purchased the asset from Invesco Real Estate for an undisclosed price. Union Investment, one of Europe’s leading asset managers, was advised in the transaction by Metzler Real Estate. CBRE’s Russell Ingrum, Bernard Branca and Jared Chua represented the seller.
“Union Investment’s purchase is a clear vote of confidence in the long-term economic prospects of Houston,” said Mr. Branca, Senior Vice President of CBRE. “Core CBD assets rarely trade and buildings like 1000 Main, which possesses the unique combination of trophy-quality construction and a fortress location, are always in high demand.”
The property has been institutionally maintained with a commitment to energy efficiency and environmental conservation. As a result, the property was awarded LEED® Gold Certification from the U.S. Green Building Council in 2013. The tower was designed and constructed by world-renowned Gensler & Associates and Century Development Corporation. Purposely built as a transit-oriented, urban landmark surrounded by new and historic buildings, the asset is also easily recognized at night by its colorful and dynamic lighting and effects.
About CBRE Group, Inc. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.