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Photo credit: Hines
Greenspoint Place
Greenspoint Place, a six-building, 36-acre office complex in North Houston is getting auctioned off as its main tenant, Exxon Mobil, leaves. The departure dropped the property's occupancy below 40%. Hines owns the complex in a partnership with General Motor Pension Fund, and both decided that considering the state of the submarket, the best course of action is to turn the over asset to the lender. The foreclosure auction is set for July 5, according to the Houston Chronicle. The Greenspoint buildings were originally developed by Friendswood Development Co and completed between 1978 and 1992. [Chron]
