Goddard Investment Group Sells 21-Story Office Tower in Downtown Houston
HOUSTON — Goddard Investment Group has sold 801 Travis, a 21-story, 220,380-square-foot office tower in downtown Houston. The buyer, LPC Realty Advisors I LP, an affiliate of Lincoln Property Co., purchased the office building on behalf of a pension fund client for an undisclosed amount.
The office building is connected to the JW Marriott, which uses the office building’s 12th floor for its spa, fitness center, VIP lounge and executive offices. The hotel’s meeting space is also located on the lower level of 801 Travis.
Originally constructed in 1981 and renovated in 2014, the office tower was 82.8 percent leased at the time of sale. In addition to the hotel’s amenities, the office building features an 11-story, 445-space parking garage.
The office tower is located adjacent to two METRORail lines and is connected to the downtown tunnel system. The property is also situated near downtown Houston’s Theater District, George R. Brown Convention Center, Minute Maid Park and the Toyota Center.
Dan Miller and Martin Hogan led HFF’s investment sales brokerage team to market 801 Travis on behalf of Goddard Investment Group.
Goddard Investment was founded in 2000 in Atlanta. The commercial real estate investment firm has acquired and managed approximately 12 million square feet of commercial space in Atlanta, Dallas, Denver, Houston, South Florida and Tampa since its founding.
LPC Realty Advisors I is a registered investment advisor formed in 1992. The company invests primarily in office buildings and currently manages more than $1.8 billion in assets.
— John Nelson