Iconic Tower Sale Bolstered by Healthy Tenant Roster
Houston’s CRE market continues to show its strength as one of its iconic buildings goes up for sale. The landmark skyscraper, Williams Tower, is owned by a subsidiary of the Hines Real Estate Investment Trust. The 1.4-million-square-foot tower, originally named Transco Tower, was built by Hines in the early 1980s. It was bought by the REIT in 2008 for $271.5 million, from Kuwaiti owners. Market experts speculate that the 64-story tower could garner as much as $475 million this time around.