{"id":1004054741,"date":"2012-12-06T07:31:15","date_gmt":"2012-12-06T15:31:15","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004054741"},"modified":"2022-12-08T17:15:46","modified_gmt":"2022-12-09T01:15:46","slug":"clarion-nabs-272-ksf-office-building-in-houston","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/clarion-nabs-272-ksf-office-building-in-houston\/","title":{"rendered":"Clarion Nabs 272 KSF Office Building in Houston"},"content":{"rendered":"<p><em>By Scott Baltic, Contributing Editor<\/em><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/CLARION.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004054744\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/clarion-nabs-272-ksf-office-building-in-houston\/clarion\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/CLARION.jpg\" data-orig-size=\"5616,3372\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1336628901&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"CLARION\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/CLARION.jpg?w=1024\" class=\"alignleft size-medium wp-image-1004054744\" title=\"CLARION\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/CLARION.jpg\" alt=\"\" width=\"300\" height=\"180\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/CLARION.jpg 5616w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/CLARION.jpg?resize=300,180 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/CLARION.jpg?resize=768,461 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/CLARION.jpg?resize=1024,615 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/CLARION.jpg?resize=1536,922 1536w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/CLARION.jpg?resize=2048,1230 2048w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/CLARION.jpg?resize=150,90 150w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/CLARION.jpg?resize=696,418 696w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/CLARION.jpg?resize=1068,641 1068w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/CLARION.jpg?resize=1920,1153 1920w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/CLARION.jpg?resize=700,420 700w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>Clarion Partners, of New York, has acquired Westchase Park, a six-story, 272,300-square-foot Class A office building in Houston\u2019s Westchase submarket, Clarion announced yesterday. The seller, Simmons Vedder Partners, of Houston and Austin, and O\u2019Connor Capital Partners, of New York, was represented by a team from the Houston office of Holliday Fenoglio Fowler, led by senior managing directors Rusty Tamlyn and Jeff Hollinden and associate director Trent Agnew. The price was not disclosed.<\/p>\n<p>The building, completed in 2009, is one of the newest office properties in the Westchase submarket and is 98.3 percent occupied. Fifty-two percent of the tenants, which include ABB and MetLife, are investment-grade tenants with an average lease term of eight years remaining, according to HFF.<\/p>\n<p>Westchase Park\u2019s amenities include a fitness center, 24-hour security, a large building conference room and a 1,089-space parking garage. The building has been awarded a LEED Gold designation for core and shell and LEED Platinum for certain tenant improvements. It\u2019s sited on the Sam Houston Parkway near Westpark Tollway, U.S. 59 and I-10.<\/p>\n<p>The property sits on 8.2 acres of land, but the deal included an additional 7 acres of adjacent land. Brian Watkins, a Clarion Partners managing director and the lead acquisitions officer for Westchase Park, said that strong demand for office space in this submarket, along with limited comparable competitive space, means that Clarion intends to develop a comparable building on the extra land.<\/p>\n<p>\u201cWe\u2019re very bullish on the Houston office market,\u201d particularly in the Westchase submarket, \u201c Chuck Kemp of Clarion Partners, the property\u2019s asset manager, told <em>Commercial Property Executive<\/em>.<\/p>\n<p>Prospective tenants totaling between 3.5 million and 4 million square feet of demand are currently looking for space in the Westchase District, he said.<\/p>\n<p>As a result, Kemp said, Clarion anticipates that the approximately 300,000-square-foot second building could attract tenants looking for 100,000 square feet of contiguous space, up to the whole building. Currently, he said, Clarion is assembling a development team and exploring preliminary designs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Clarion Partners has acquired Westchase Park, a six-story, 272,00-square-foot Class A office building in Houston\u2019s Westchase submarket.<\/p>\n","protected":false},"author":882,"featured_media":1004054744,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1589,21783,21742,21747],"tags":[],"class_list":["post-1004054741","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-houston","category-investment","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Clarion Nabs 272 KSF Office Building in Houston - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/clarion-nabs-272-ksf-office-building-in-houston\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Clarion Nabs 272 KSF Office Building in Houston\" \/>\n<meta property=\"og:description\" content=\"Clarion Partners has acquired Westchase Park, a six-story, 272,00-square-foot Class A office building in Houston\u2019s Westchase submarket.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/clarion-nabs-272-ksf-office-building-in-houston\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-12-06T15:31:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T01:15:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/CLARION.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"5616\" \/>\n\t<meta property=\"og:image:height\" content=\"3372\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/clarion-nabs-272-ksf-office-building-in-houston\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/clarion-nabs-272-ksf-office-building-in-houston\\\/\"},\"author\":{\"name\":\"Scott Baltic\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/61ac1450f3ffaa0e850b834c28526555\"},\"headline\":\"Clarion Nabs 272 KSF Office Building in Houston\",\"datePublished\":\"2012-12-06T15:31:15+00:00\",\"dateModified\":\"2022-12-09T01:15:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/clarion-nabs-272-ksf-office-building-in-houston\\\/\"},\"wordCount\":337,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/clarion-nabs-272-ksf-office-building-in-houston\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2012\\\/12\\\/CLARION.jpg\",\"articleSection\":[\"Houston\",\"Investment\",\"News\",\"Office\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/clarion-nabs-272-ksf-office-building-in-houston\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/clarion-nabs-272-ksf-office-building-in-houston\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/clarion-nabs-272-ksf-office-building-in-houston\\\/\",\"name\":\"Clarion Nabs 272 KSF Office Building in Houston - 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