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(Houston) - The 1.1 million-sf JPMorgan Chase Center in Houston’s central business district has gone to a new owner, Texas Tower Ltd. The Class A office building, valued by the Houston County Appraisal District at $32 million, is adjacent to the 75-story JPMorgan Chase Tower, which is also owned by Texas Tower Ltd.
The sale is the result of JPMorgan Chase's consolidation to 712 Main and 1111 Fannin St., though the financial institution will retain just 26,000 sf at the Center. Upon Chase’s departure in 2010, approximately 250,000 sf will be available for lease.
The JPMorgan Chase Center was developed by Hines and completed in 1982.
[GlobeSt.com]
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