Houston Business Journal

HBJ’s 2016 Deals of the Year: Commercial Real Estate

[as originally published on bizjournals.com]

HBJ's 2016 Deals of the Year highlight the most impactful deals that closed this year and the dealmakers behind them. Click here to see all the categories .

Winner: Houston developer buys former Exxon campus near the Heights

The skinny: A partnership affiliated with Houston real estate investor Khaled Salem of Williamsburg Enterprises and Alan Hassenflu of Houston-based Fidelis Realty Partners Ltd. bought Exxon Mobil Corp.’s former Brookhollow campus for $11 million. The 24-acre property is at 4400-4550 Dacoma St. along Highway 290, northwest of the 290 and Loop 610 intersection. The facility includes three office buildings totaling 500,000 square feet, a full-service cafeteria and 60,000 square feet of storage and auxiliary buildings. Fidelis plans to demolish some office buildings and build a 200,000-square-foot retail center, plus an additional development tract for office and residential.

“All of the office buildings are going to come down. They’re 1970s, vintage office buildings that were owned and housed by Exxon. They’re just old and obsolete,” said Hassenflu, CEO of Fidelis Realty Partners.

Dealmakers: Fidelis Realty Partners, Williamsburg Enterprises, Exxon Mobil Corp., Chicago-based JLL had the listing… READ MORE