Skanska sells Houston office properties for $147m

Image courtesy of Skanska
Swedish contractor Skanska has sold office properties in Houston, Texas, for $147m to a joint venture led by local property company Fuller Realty Interests.

Skanska’s sale involves two parcels of the 713,000 sq ft West Memorial Place, in Houston’s Energy Corridor.  The site is adjacent to Houston’s Terry Hershey Park and contains restaurants, a fitness centre and a car park.

The sale of West Memorial Place I consists of 331,000 sq ft of office space and West Memorial Place II contains 382,000 sq ft.

Construction on the projects began in the third quarter of 2013 for West Memorial Place I and third quarter of 2014 for West Memorial Place II.

Exterior and interior elements were completed by 2016.

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