Skanska sells share in West Memorial Place I and II

Press release 2/1/2022 7:00 AM EST
A mixed-use building in Houston, Texas

HOUSTON, TX – Skanska, a leading global development and construction firm, today announced that it is selling its mixed-use West Memorial Place I and II project to a joint venture spearheaded by Fuller Realty Interests, LLC.

Located in Houston’s Energy Corridor, the West Memorial Place campus offers over 715,000 square feet of Class A office space and more than 5,000 square feet of retail space across both towers. The campus, which is surrounded by lush outdoor spaces and unique amenities, was completed in 2016 and is LEED Platinum® certified.

“Skanska’s Houston team has celebrated many great milestones over the last few years, from delivery of Bank of America Tower to breaking ground on 1550 on the Green. The sale of West Memorial Place signifies the value of Skanska’s developments in this market and demonstrates our team’s commitment to creating superior products for the Houston community,” said Matt Damborsky, Executive Vice President for Skanska USA Commercial Development’s Houston market. “As the new buyer begins operations, we are confident that its team and tenants will experience the value of West Memorial Place for years to come.”

“We are thrilled to acquire a best-in-class office project from a world class developer. Our team believes that the best office buildings will win in this environment and West Memorial Place I and II should be well positioned given its location, above market amenity packages, and the fact that these office buildings are the only LEED Platinum multi-tenant office buildings in suburban Houston,” said Steve Darnall, principal at Fuller.

Jeff Hollinden, Kevin McConn and Katherine Miller of Jones Lang LaSalle represented Skanska in the sale. Fuller will oversee day-to-day operations, leasing and management.