“Burns & McDonnell” signs went up on the 1700 West Loop South office building after a 115,599-square-foot lease renewal and expansion deal for the engineering and construction firm.
Uptown’s Burns & McDonnell Plaza sells for $52 million
Lingerfelt CommonWealth Partners bought the 272,941-square-foot building and adjacent 786-space parking garage. The previous owner, ROC Bridge Partners of Salt Lake City, bought the property in 2012 for $36.3 million, according to Enriched Data.
The tower is 81 percent occupied and is anchored by Burns and McDonnell, an international engineering, architectural and consulting firm.
“Our company is excited to enter Houston at this time,” Jay Kraft, Lingerfelt senior vice president, said in a statement. “We have been tracking the market and believe the basic fundamentals are strengthening. We look forward to exploring other opportunities and expanding our presence.”
Commonwealth Commercial Partners will manage the property, and Avison Young will handle leasing.