JPMorgan Chase Building Under New Ownership
2/16/2010-Downtown Houston Real Estate News-Brookfield Real Estate Opportunity Fund obtains 3 new Houston commercial buildings through 200 million transaction with JPMorgan Chase. The 1929 constructed historical building at 712 Main st. known as the JPMorgan Chase building was included in the sale along with 1934 W. Gray St., a 23,000 sqft office builing, and 8515 Fondren a 25,000 sqft office building.
These three buildings were the only Houston properties included in the 2.9 million square foot deal of 16 office properties across the U.S. It will be interesting to see if Brookfield chooses to change the name of the JPMorgan Chase building to gain local branding for their real estate firm.
Is this indicative of the strength of the Houston Commercial market? J P Morgan seem to have survived the credit crunch!