hines in highland village
Houston's global real estate powerhouse snatches up highly coveted River Oaks address
One of Houston’s most-sought after commercial addresses has just been snatched up by an iconic real estate company based here. Global real estate firm Hines has acquired the sleek 200 Park Place office building, the company announced.
Hines purchased the coveted space located at 400 Westheimer Rd. for $145 million, according to a press release.
Nestled between River Oaks and Highland Village — just a short jaunt to Central Market, Highland Village shops, and River Oaks District — 200 Park Place has long been considered one of the most prestigious office developments in the city.
The project, spanning more than 206,000 square feet, offers clients luxe shopping, high-end dining, and community green space — all within walking distance.
“Houston’s River Oaks District is a centrally located submarket that is continuing to see interest from those looking to work and play in an engaging, upscale neighborhood,” said John Mooz, senior managing director at Hines, in a statement. “200 Park Place’s modern design and walkable amenities differentiate it from other office and retail opportunities along Westheimer Road, making it a strategic location for investment in this key submarket.”
Already completely leased to myriad clients, notable tenants include Buckeye Partners and JLL, which has made the building its corporate headquarters.
“As high-profile companies continue to look to Houston for best-in-class, well-amenitized buildings, and Houston continues to lead the U.S. on return-to-office rates, our acquisition of 200 Park Place allows us to strategically capitalize on these trends and the ongoing evolution of commercial real estate,” said Janice Walker, chief operating officer of Hines Global Income Trust, in press materials.
Locals will no doubt recognize Hines as the firm responsible for much of downtown’s skyline. Founded by real estate titan Gerald D. Hines, the company is now led by his son, Jeff Hines and granddaughter Laura Hines-Pierce, as CultureMap previously reported.
