Brookfield Properties Corporation has purchased the 53-story Heritage Plaza in Houston from Goddard Investment Group for $321.5 million (gross purchase price of $325 million net of $3.5 million of closing credits) according to a CoStar report. Goddard originally purchased the building in July 2005 for an undisclosed amount of cash, but The Houston Chronicle estimated the price at $125-$130,000,000.
Heritage Plaza, at 1111 Bagby Street, was completed in 1987 and designed by M. Nasr & Partners. The 1.2 million square foot trophy office building is convenient to major thoroughfares and provides direct passage to adjacent buildings and surrounding amenities via sky bridge. The property is roughly 84% leased with major tenants including Deloitte and EOG Resources.
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