Office sale in Houston’s Energy Corridor

Investors seek returns after 3 1/2 years' ownership

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Tenant-in-common investors recently sold a 207,435-square-foot office property in the Energy Corridor District of Houston, Texas, for an undisclosed price. The property, 1401 Enclave Parkway, is a six-story, class A building home to four tenants -- The Shaw Group Inc., Meridian Resource Co. LLC, Lloyd's Register North America Inc., and Parker Drilling Co. -- at the time of sale. The sellers originally purchased the asset in December 2003, according to a press statement. Parkway Properties Office Fund L.P. was the property's most recent buyer, which had a 10 percent vacancy at closing. ...