Energy Corridor Building to Fetch Record-High Price (Realty News Report)

A new office building in Houston’s Energy Corridor is expected to sell for a record-high price, despite the recent collapse in oil prices and the energy industry layoffs that followed.

The 549,000-square-foot Energy Center 3 tower, fully leased to ConocoPhillips, has been placed on the market with expectations that it will fetch a sales price of $270 million or $492 per square foot. That would represent the highest per-square-foot price ever paid for a Houston building outside of downtown, according to the Real Estate Alert newsletter.

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