Lakes on Post Oak is a commercial complex located in Uptown Houston, Texas, United States.
The complex includes the 19-story 3000 Post Oak Boulevard, the 22-story 3040 Post Oak Boulevard, and the 17-story 3050 Post Oak Boulevard. Each building has a dedicated parking garage.[1] Together the buildings, on a 23acres site, have 1200000square feet of Class A office space.[2] [3]
Hines Interests Limited Partnership developed Lakes on Post Oak as an integrated office project between 1979 and 1981.[3] The 44200square feet 3040 Post Oak Boulevard building opened in 1982.[2] The buildings were originally owned by Hines.[4]
In 1997 Cottonwood Partners, a Dallas-based company, bought a portion of Lakes on Post Oak,[5] consisting of 3000 Post Oak Boulevard and 3050 Post Oak Boulevard[3] In 1997 the combined value of all of the buildings in Lakes of Post Oak were between $138 million to $150 million ($110–120 per square foot). Logan Brown, an office broker of Grubb & Ellis, said that the complex's "unique views of the lake, proximity to the Galleria and the fact that the lakes have become a gathering place during the day and in the evenings" make the complex "the only one in Houston that is widely appealing to office and non-office users."[5]
Before 2002, 3040 Post Oak Boulevard was owned by Nippon Life. In 2002 Koger Equity, Inc. acquired the entire Lakes on Post Oak project for $102 million ($85 per square foot) from Cottonwood and Nippon Life, reunifying the complex. Thomas Crocker, the Chief Executive Officer of Koger Equity, said Its 'suburban in-fill' characteristics combined with the fact that the properties were purchased at a significant discount to replacement cost integrates perfectly with our long-term investment strategy." As of 2002 the Lakes on Post Oak complex was 75% occupied.[3] In 2003 Koger announced that Trammell Crow would manage and lease units in the complex.[6]
3000 Post Oak has about 450000square feet of space. In 1997 3000 Post Oak Boulevard was 100% occupied and housed Bechtel.[5]
3040 Post Oak has about 450000square feet of space. In 1997 3040 Post Oak Boulevard was 95% occupied.[5] The Consulate-General of Angola is in Suite 780.[7] In 2009 Opicoil Houston renewed and expanded its lease at 3040 Post Oak Boulevard.[8]
3050 Post Oak has about 350000square feet of space. In 1997 3050 Post Oak Boulevard was 97% occupied.[5] In 2009 Galway Group renewed and expanded its lease in 3050 Post Oak Boulevard.[8] The Consulate-General of Argentina was formerly located in Suite 1625[9] - As of June 2, 2009 it is located in a different facility in Uptown.[9] [10]