PIEDMONT OFFICE REALTY SELLS HOUSTON BUILDING FOR $48.75M

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HOUSTON — Piedmont Office Realty Trust has sold 1200 Enclave Parkway, a 149,683-square-foot office building in Houston, for $48.75 million, or $326 per square foot. The Griffin Capital Corp. purchased the property on behalf of Griffin Capital Essential Asset REIT Inc. The Class A property is fully leased to Schlumberger Technology Corp., a subsidiary of Schlumberger Limited. Jeff Hollinden and Robert Williamson of HFF, along with Piedmont's Karen Purdy, represented the seller in the transaction. The buyer was self-represented.

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