Skyscraper in Downtown Area Sold for $66 Million

January 26, 2026

The recent sale of the 40-story skyscraper at 601 Jefferson in downtown Houston has made headlines as one of the city’s prominent office building transactions in the past year. Namdar Realty Group from Great Neck, New York, purchased the 1.06-million-square-foot building for $66 million, as reported in an SEC filing, marking a significant deal in Houston’s real estate market.

KBR, the engineering and construction firm, serves as the main tenant in the building, occupying 87% of the tower’s space. Overall, the building boasts a 92% occupancy rate, according to Kevin McConn from JLL Capital Markets, who, alongside Jeff Hollinden, facilitated the transaction. McConn noted that the investment opportunity presented an attractive yield, generating strong interest from various local and national private capital sources, including new investors in the market.

JLL acted as the selling agent for Net Lease Office Properties, a REIT that was formerly associated with the W.P. Carey organization, the previous owner of the 601 Jefferson tower. W.P. Carey had acquired the property for $174.6 million back in 2012. Erected in 1973, the tower is part of the Cullen Center complex situated around Smith and Louisiana streets, developed by the family of oil tycoon Hugh Roy Cullen.

Previously known as 600 Jefferson, another office tower within the Cullen Center has recently undergone a transformation into a 372-unit apartment building named Elev8. Led by Eddie DeBartolo, the former owner of the NFL’s San Francisco 49ers, the redeveloped building now bears the address of 1801 Smith, diversifying the mixed-use nature of the area.

Although JLL mentioned in a press release that the tower spans 1,047,748 square feet, an SEC filing by Net Lease Office Properties states that the building actually covers 1,064,788 square feet. This discrepancy does not detract from the significance of the transaction as the skyscraper changes hands to Namdar Realty Group, ushering in a new chapter for the landmark building in downtown Houston.