{"id":1004127537,"date":"2015-09-16T09:41:41","date_gmt":"2015-09-16T17:41:41","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=360873"},"modified":"2022-12-04T03:16:37","modified_gmt":"2022-12-04T11:16:37","slug":"hff-facilitates-sale-of-galleria-place","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hff-facilitates-sale-of-galleria-place\/","title":{"rendered":"HFF Facilitates Sale of Galleria Place"},"content":{"rendered":"<p style=\"text-align: justify\"><em>By Anca Gagiuc, Associate Editor<\/em><\/p>\n<div id=\"attachment_360878\" class=\"wp-caption alignright\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/09\/GP-I-and-II.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-360878\" title=\"Galleria Place I and II\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/09\/GP-I-and-II.jpg\" alt=\"Galleria Place I and II\" width=\"300\" height=\"223\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Galleria Place I and II<\/p>\n<\/div>\n<p style=\"text-align: justify\">Galleria Place, the two Class A office buildings totaling 401,000 square feet and the stand-alone retail site across from the Galleria Mall, has changed owners.<\/p>\n<p style=\"text-align: justify\">Senior managing director Dan Miller and director Martin Hogan led the <a href=\"https:\/\/www.hfflp.com\/\">HFF<\/a> investment team.<\/p>\n<p style=\"text-align: justify\">HFF marketed the property on behalf of the seller, <a href=\"https:\/\/www.carlyle.com\/\">The Carlyle Group<\/a> and <a href=\"https:\/\/songyhighroads.com\/\">Songy Highroads LLC<\/a>, and is also engaged to arrange financing for the buyer, <a href=\"https:\/\/www.lpc.com\/index.html\">Lincoln Property Company<\/a>. The financial details of the transaction remain undisclosed.<\/p>\n<p style=\"text-align: justify\">Galleria Place consists of the 11-story, 217,006-square-foot office building Galleria Place I (5251 Westheimer); the 10-story, 178,468-square-foot office building Galleria Place II (5333 Westheimer); the 5,707-square-foot retail building Sage Plaza\u2014which is fully leased to a local high-end salon and tailor; the single-story bank branch Regions Bank and drive-thru connected to Galleria Place I and included in its square footage; and two parking garages totaling 1,361 spaces. Galleria Place is currently 53 percent leased to tenants including Just Energy and HIS. The asset sits on six acres nestled between Sage and Westheimer Road and West Alabama Street.<\/p>\n<p style=\"text-align: justify\">\u201cGalleria is one of the best office markets in the city, and we positioned Galleria Place to take full advantage of this demand,\u201d Todd Nocerini, COO of Songy Highroads, said in a prepared statement. \u201cWith new hotel and retail under development within walking distance, the strength of this property will continue to increase.\u201d<\/p>\n<p style=\"text-align: justify\"><em><br \/>\n<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Houston&rsquo;s Galleria Place is now off the market.<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1589,21742],"tags":[],"class_list":["post-1004127537","post","type-post","status-publish","format-standard","hentry","category-houston","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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