Lakes on Post Oak is a commercial complex located in

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. The complex includes the 19-story 3000 Post Oak Boulevard, the 22-story 3040 Post Oak Boulevard, and the 17-story 3050 Post Oak Boulevard. Each building has a dedicated parking garage. Together the buildings, on a site, have of Class A office space.3040 Post Oak Boulevard
" ''Hines Interests Limited Partnership''. Retrieved on January 18, 2009.Koger Equity Closes The Lakes on Post Oak Acquisition in Houston, Texas.
Business Wire. December 10, 2002. Retrieved on November 17, 2009.

History

Hines Interests Limited Partnership Hines Interests Limited Partnership is an American privately held company that invests in and develops real estate. As of 2023, the company has developed, redeveloped or acquired more than 1,600 properties, comprising over 540 million square fe ...

developed Lakes on Post Oak as an integrated office project between 1979 and 1981. The 3040 Post Oak Boulevard building opened in 1982. The buildings were originally owned by Hines. In 1997 Cottonwood Partners, a

Dallas Dallas () is a city in the U.S. state of Texas and the most populous city in the Dallas–Fort Worth metroplex, the List of Texas metropolitan areas, most populous metropolitan area in Texas and the Metropolitan statistical area, fourth-most ...

-based company, bought a portion of Lakes on Post Oak,Stromberg, Laura A. "Portion of The Lakes on Post Oak bought by Dallas real estate firm." ''

Houston Business Journal American City Business Journals, Inc. (ACBJ) is an American newspaper publisher based in Charlotte, North Carolina. ACBJ publishes ''The Business Journals'', which contains local business news for 44 markets in the United States with each market ...

''. Friday October 24, 1997
1
Retrieved on November 17, 2009. consisting of 3000 Post Oak Boulevard and 3050 Post Oak Boulevard In 1997 the combined value of all of the buildings in Lakes of Post Oak were between $138 million to $150 million ($110–120 per square foot). Logan Brown, an office broker of Grubb & Ellis, said that the complex's "unique views of the lake, proximity to the

Galleria Galleria may refer to Shopping centres named ''Galleria'' Australia *Galleria Shopping Centre (Perth), Morley, Western Australia * Galleria Shopping Centre (Melbourne), Melbourne, Victoria Canada * Allen Lambert Galleria, Toronto, Ontario *G ...

and the fact that the lakes have become a gathering place during the day and in the evenings" make the complex "the only one in Houston that is widely appealing to office and non-office users." Before 2002, 3040 Post Oak Boulevard was owned by

Nippon Life , also known as or is the largest Japanese life insurance company by revenue. The company was founded in 1889 as the ''Nippon Life Assurance Co., Inc.'' In structure it is a mutual company. It first paid policyholder dividends in 1898. Overv ...

. In 2002 Koger Equity, Inc. acquired the entire Lakes on Post Oak project for $102 million ($85 per square foot) from Cottonwood and Nippon Life, reunifying the complex. Thomas Crocker, the Chief Executive Officer of Koger Equity, said Its 'suburban in-fill' characteristics combined with the fact that the properties were purchased at a significant discount to replacement cost integrates perfectly with our long-term investment strategy." As of 2002 the Lakes on Post Oak complex was 75% occupied. In 2003 Koger announced that

Trammell Crow Fred Trammell Crow (June 10, 1914 – January 14, 2009) was an American real estate developer from Dallas, Texas. He is credited with the creation of several major real estate projects, including the Dallas Market Center, Peachtree Center in Atlan ...

would manage and lease units in the complex. In 2010, Thomas Crocker's firm Crocker Partners, now CP Group, reacquired the asset from a distressed buyer. The firm capitalized on the opportunity of re-acquiring the asset at a time of perceived market risk due to a pending 50% anchor tenant lease expiration, which had substantially driven down pricing. CP Group increased occupancy to over 90% due to increased demand from the building and road improvements and sold the buildings again in 2014 at a 2.7x multiple.

Buildings

3000 Post Oak Boulevard

3000 Post Oak has about of space. In 1997 3000 Post Oak Boulevard was 100% occupied and housed

Bechtel Bechtel Corporation () is an American engineering, procurement, construction, and project management company founded in San Francisco, California in 1898, and headquartered in Reston, Virginia in the Washington metropolitan area. , the '' E ...

3040 Post Oak Boulevard

3040 Post Oak has about of space. In 1997 3040 Post Oak Boulevard was 95% occupied. The Consulate-General of Angola is in Suite 780. In 2009 Opicoil Houston renewed and expanded its lease at 3040 Post Oak Boulevard.Real estate transactions
" ''

Houston Chronicle The ''Houston Chronicle'' is the largest daily newspaper in Houston, Houston, Texas, United States. it is the third-largest newspaper by Sunday circulation in the United States, behind only ''The New York Times'' and the ''Los Angeles Times''. ...

''. May 23, 2009. Retrieved on November 17, 2009.

3050 Post Oak Boulevard

3050 Post Oak has about of space. In 1997 3050 Post Oak Boulevard was 97% occupied. In 2009 Galway Group renewed and expanded its lease in 3050 Post Oak Boulevard. The Consulate-General of Argentina was formerly located in Suite 1625Home page
'' Consulate-General of Argentina in Houston''. Retrieved on July 30, 2009. - As of June 2, 2009 it is located in a different facility in Uptown.Consulado General en Houston
." '' Embassy of Argentina in Washington D.C.''. Retrieved on July 30, 2009.

Gallery

File:AngolaConsulateHoustonTX.JPG, Consulate-General of Angola, Suite 780 in 3040 Post Oak Boulevard

References

External links

Lakes on Post Oak
{{DEFAULTSORT:Lakes On Post Oak Office buildings in Houston Nippon Life