Enterprise To Pay Record $550M For Shell Plaza In Houston

Law360, New York (July 11, 2012, 6:23 PM EDT) -- Enterprise Products Co. will acquire both Shell Plaza office towers in downtown Houston from commercial real estate giant Hines Interests LP in a deal estimated to be worth a record-breaking $550 million, it announced Tuesday.

An affiliate of international real estate firm Enterprise will purchase Shell Plaza from the Hines U.S. Core Office Fund when the deal closes in August. At $307 per square foot, the deal eclipses Houston's current record for an office property set by the sale of Hess Tower to a Canadian real...
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