HFF, Inc. : HFF closes sale of Class A office complex in suburban New Orleans DALLAS, TX, June 12, 2013- HFF announced today that it has closed the sale of Lakeway Center, a three-building, Class A office complex totaling 1.22 million square feet in Metairie, Louisiana. HFF marketed the property on behalf of the seller, Equity Office Properties. The Feil Organization purchased the property for an undisclosed amount. Located in the suburban market of Metairie, roughly equidistant from downtown New Orleans and the New Orleans International Airport, Lakeway is the premier office development in suburban New Orleans and one of the largest office developments in the state. Its location at the foot of Lake Pontchartrain provides access to the affluent residential areas of the North Shore and Metairie as well as to downtown New Orleans via Interstate 10. It is also less than one mile from Lakeside Shopping Center, one of the strongest malls in Louisiana. Lakeway Center is 90.5 percent leased to diverse tenants such as People's Health Network, the Drug Enforcement Administration, EDG, Inc. and Fresenius Medical Care. According to HFF, the sale is another piece of good news for the local economy, which has been on a roll in recent years. Already boasting unemployment rates well below the national average, New Orleans is now drawing praise from national publications which tout the city's vibrant economy, which is characterized by its historical mainstays - oil and gas, the port and tourism - as well as substantial recent growth in technology and film. Just last month Forbes ranked New Orleans as the #3 City in the U.S. for growth of information jobs, including publishing, software, entertainment and data processing. "We are very pleased to close the acquisition of Lakeway Center. It is an outstanding property, which is an ideal complement to our nearby Lakeside Shopping Center. This transaction builds on our nearly 40-year track record of investment and job creation in the greater New Orleans community. We plan to continue to maintain and upgrade Lakeway Center to ensure it remains a top-tier office destination," stated Jeffrey Feil, chief executive officer of the Feil Organization. Equity Office Properties is one of the largest and most well-respected commercial real estate firms in the nation, with a portfolio encompassing 65 million square feet of Class A office space under management in superior locations throughout the country. For more information, visit www.equityoffice.com. For more than 50 years, The Feil Organization, an established investment, development and management firm based in New York City, has been one of the nation's foremost real estate companies. Active in every facet of the industry, the firm owns, develops and manages more than 26 million square feet of retail, commercial and industrial properties, more than 5,000 residential rental units, as well as hundreds of net-leased properties and thousands of acres of undeveloped land across the country. www.feilorg.com. HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit www.hfflp.com or follow HFF on Twitter at www.twitter.com/hff. CONTACTS: ANDREW S. LEVY HFF Senior Managing Director (214) 265-0880 firstname.lastname@example.org KRISTEN M. MURPHY HFF Associate Director, Marketing (617) 848-1572 email@example.com ------------------------------------------------------------------------------ This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: HFF, Inc. via Thomson Reuters ONE HUG#1709109
HFF, Inc. : HFF closes sale of Class A office complex in suburban New Orleans
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