HOUSTON — Trammell Crow Co. (TCC), in a joint venture with Principal Real Estate Investors, has purchased a 10-story Class A office building totaling 497,000 square feet located at 20555 State Highway 249 in Houston's Northwest submarket. The building was formerly owned and served as the corporate headquarters for Compaq Computer Corp. and later Hewlett-Packard Co. The acquisition also includes the purchase of an adjacent five-story parking garage and a 3.5-acre development site for future expansion. The joint venture plans a significant renovation program, including renovations and upgrades to lobbies, landscaping, common areas, signage and other aspects of the building. In addition, the ownership plans to seek Energy Star and LEED-EB (Existing Building) certification.
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