Downtown Office Tower Sold, Market briefs

In Houston, The 801 Travis building, a 222,192-SF office tower in downtown Houston, has been sold.

The 21-story tower, built in 1981, is positioned on a.43-acre site at the corner of Travis and Rusk streets.

In Jll Capital Markets represented the court, appointed receiver in the sale of the property to a private investor who was represented by Morris Chen.

The building, which is 45% leased, features a parking garage on floors two through 11.

JLL’s Capital Markets Investment Sales and Advisory team was led by Senior Director Rick Goings, Managing Director Marty Hogan, Senior Managing Director Tom Hall and Analysts Gianna New and Dawson Hastings.

“The office market has significantly evolved over the past few years,” said Goings. “Recent Houston office buyers have found success by acquiring properties at reset values, giving them flexibility to invest in amenities, tenant improvements, and leasing costs that will drive a higher exit. 801 Travis was well received by the market, and we’re excited to see what the buyer has in store for the property.”

The building is attached via skybridge to the 328-room JW Marriott Downtown Houston Hotel.