Granite sheds Houston office space for $45 million

Real estate investment company Granite Properties has sold a large Houston office building for $45 million.

The property, 363 North Belt, features 386,277 square feet of office space. The 19-story tower is located at 363 North Sam Houston Parkway East in the city’s Greenspoint submarket.

An undisclosed pension fund advisory firm purchased the property for a confidential price free and clear of debt, according to a press statement. The property had undergone renovations since 2002.

At the time of sale, the property was 95.2 percent leased to tenants that included Newfield Exploration, Signature Hospital, Insource Technology and U.S. Legal Support.