HFF Hired to Market Former KBR HQ in Houston
- Jun 21, 2012
According to an official announcement, Holliday Fenoglio Fowler has been hired by KBR to market the 135.8 acres of land that used to serve as the company’s headquarters in Houston.
HFF is marketing the East End site on behalf of seller KBR—a global engineering, construction and services company supporting the energy, hydrocarbon, government services, minerals, civil infrastructure power, industrial and commercial markets—for an undisclosed amount, free and clear of debt. The HFF investment sales team is led by managing director Davis Adams.
“We are very pleased to announce this extremely rare opportunity. This is one of the largest land sites in the United States with immediate proximity to a major metropolitan area’s central business district, which makes it a prime location for major infill redevelopment,” commented Adams. “The site is fully open to a wide variety of development opportunities, particularly considering Houston’s standing as one of the best-performing markets, with some of the strongest job growth in the nation.”
The property marketed for sale is located at 4100 Clinton Drive, less than one mile from downtown Houston; it contains nearly one mile of water frontage on Buffalo Bayou and provides access to the area’s major freeways and mass transit facilities. The five buildings existing on the site total approximately 720,000 square feet, with an additional 36,000 square feet for an employee entertainment facility that includes a cafeteria, gymnasium and day-care center.
KBS had vacated the site two years ago, seeking to consolidate its presence in the downtown area. The timing of the sale is perceived as a major component in how the property is priced, given the recent explosive growth on the East End, fueled mostly by the new Dynamo Stadium and light-rail line.
Image via Google Earth