{"id":132642,"date":"2026-01-21T23:50:07","date_gmt":"2026-01-21T23:50:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-tx\/132642\/"},"modified":"2026-01-21T23:50:07","modified_gmt":"2026-01-21T23:50:07","slug":"kbr-leased-1m-sf-downtown-houston-tower-changes-hands","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-tx\/132642\/","title":{"rendered":"KBR-Leased 1M SF Downtown Houston Tower Changes Hands"},"content":{"rendered":"

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\n KBR Tower at 601 Jefferson St. in Houston\n <\/p>\n

Net Lease Office Properties sold a 1M SF building leased\u00a0by KBR Inc. for $66M, or about $63 per SF, the\u00a0company disclosed in Securities and Exchange Commission filings.<\/p>\n

Although the building\u2019s address was not disclosed, the details match those of KBR Tower, a 40-story building at 601 Jefferson St. in Downtown Houston.<\/p>\n

NLOP, which is externally managed and advised by affiliates of W.P. Carey, did not name the buyer, other than to describe it as an \u201cunaffiliated third party.\u201d However, Traded: Texas\u00a0reported the buyers<\/a> as Namdar Realty Group and Mason Asset Management, both of Great Neck, New York.\u00a0<\/p>\n

A representative for W.P. Carey declined to comment.\u00a0<\/p>\n

An affiliate of W.P. Carey bought KBR Tower in November 2012 for $174.6M,\u00a0Chron reported at the time<\/a>.\u00a0W.P. Carey\u00a0spun the building into its new NLOP REIT<\/a> in 2023.\u00a0<\/p>\n

KBR, an engineering and construction company, occupies about 900K SF in the building with a lease running through 2030.<\/p>\n

The building was one of the properties in a pool of collateral for a $335M senior secured mortgage, which was fully repaid in December 2024, and a $120M mezzanine loan fully repaid in April 2025, NLOP said\u00a0in an SEC filing<\/a>.<\/p>\n

The KBR Tower sale was completed on Jan. 15, according to NLOP. The contractual sales price of $66M resulted in net proceeds of about $65.4M, the filing states.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"KBR Tower at 601 Jefferson St. in Houston Net Lease Office Properties sold a 1M SF building leased\u00a0by…\n","protected":false},"author":2,"featured_media":132643,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[56,58,57,56771,56770,56775,56773,56774,56772],"class_list":["post-132642","post","type-post","status-publish","format-standard","has-post-thumbnail","category-houston","tag-houston","tag-houston-headlines","tag-houston-news","tag-kbr","tag-kbr-tower","tag-mason-asset-management","tag-namdar-realty-group","tag-net-lease-office-properties","tag-w-p-carey"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/132642","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=132642"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/132642\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/132643"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=132642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=132642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=132642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}